ABC Company has the following data for the current taxable year:

Philippines	Singapore
Gross Sales	3,000,000	2,000,000
Cost of Sales	1,200,000	800,000
Other Income	600,000	400,000
Total Itemized Business Expenses	1,200,000	540,000

1. In addition, ABC Company earned an income of 700,000 during the taxable year that cannot be identified if sourced from within the Philippines or From Singapore. How much is the corporate tax liability if it is a Domestic corporation using itemized deduction?

2. In addition, ABC Company earned an income of 700,000 during the taxable year that cannot be identified if sourced from within the Philippines or From Singapore. How much is the tax liability if it is a Resident foreign corporation using optional standard deduction?

3. In addition, ABC Company earned an income of 700,000 during the taxable year that cannot be identified if sourced from within the Philippines or From Singapore. How much is the tax liability if it is a Non-resident foreign corporation assuming income from within the Philippines is derived from interest, rents and dividends?

Answer rating: 100% (QA)

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