ANSWER THIS BASE ON PHILIPPINE SETTING

Present a computation of the annual corporate income tax.BCPK computed the following normal income tax and minimum corporate income tax, and creditable income taxes withheld from rst to fourth quarter, including excess MCD' from prior 1,rears amounting to P25,000 and excess withholding tax from prior years amounting to P15,000. Quarter NClT MCD' Withheld Taxes 1 9 03,000.00 9 95,000.00 9 15,000.00 2 9 220,000.00 9 100,000.00 9 25,000.00 3 9 250,000.00 9 100,000.00 9 35,000.00 4 9 235,000.00 9 90,000.00 9 32,000.00