Question: Example No . 1 3 Shell Philippines, a multinational company, has gross income for a particular year of P 5 0 , 0 0 0

Example No.13
Shell Philippines, a multinational company, has gross income for a particular year of P50,000,000. The taxable income after taking all deductions except for depletion is P18,500,000. What is the allowable depletion allowance for that particular year? Take percentage of gross income for oil as 22%
Example No . 1 3 Shell Philippines, a

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