Dynasty Corporation just completed its third year of operations. It has the following financial information for...
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Dynasty Corporation just completed its third year of operations. It has the following financial information for the taxable year 2019, its third year: Gross Income Deductions Philippines P1,250,000 China P 800,000 540,000 945,000 1. Assuming that the tax payer is a domestic corporation, what is the taxable income? What is the tax due? 10 pts 2. Assuming that the taxpayer is a resident foreign corporation, what is the taxable income? What is the tax due? 10 pts 3. Assume that the taxpayer is a non-resident foreign corporation, what is the taxable income? What is the tax due? 10 pts Dynasty Corporation just completed its third year of operations. It has the following financial information for the taxable year 2019, its third year: Gross Income Deductions Philippines P1,250,000 China P 800,000 540,000 945,000 1. Assuming that the tax payer is a domestic corporation, what is the taxable income? What is the tax due? 10 pts 2. Assuming that the taxpayer is a resident foreign corporation, what is the taxable income? What is the tax due? 10 pts 3. Assume that the taxpayer is a non-resident foreign corporation, what is the taxable income? What is the tax due? 10 pts
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1Computation of Taxable Income and Tax due of Dynasty Corporation PARTICULARS Philippines China TOTA... View the full answer
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