In December 2027. Taguan Bank reported a net income of P900,000, net of trading loss of P50,000.
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Question:
In December 2027. Taguan Bank reported a net income of P900,000, net of trading loss of P50,000. In January 2028, Taguan reported the following gross receipts:
Interest income with a maturity of fewer than 5 years P 600,000
Royalty income 300,000
Gain from the sale of derivatives 200,000.
Required
How much is the gross receipts tax on the collections of Taguan for January 2028?
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