Korporasyon Corporation, a domestic corporation in its its third year of operations as of January 1,...
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Korporasyon Corporation, a domestic corporation in its its third year of operations as of January 1, 2021, classified as MSME under CREATE law, has the following information: Sales P17,000,000 Cost of sales-P10,500,000 Allowable itemized deductions - P6,750,000 How much is the income tax payable? Korporasyon Corporation, a corporation engaged in business in the Philippines and abroad has the following data for 2021: Gross income, Philippines-P975,000 Expenses, Philippines-P750,000 Gross income, Indonesia - P770,000 Expenses, Indonesia - P630,000 Interest on bank deposit. Philippines P25,000 Assets-P15,000,000 Determine the income tax due assuming Korporasyon is a non-resident foreign corporation. Korporasyon Corporation, a domestic corporation in its its third year of operations as of January 1, 2021, classified as MSME under CREATE law, has the following information: Sales P17,000,000 Cost of sales-P10,500,000 Allowable itemized deductions - P6,750,000 How much is the income tax payable? Korporasyon Corporation, a corporation engaged in business in the Philippines and abroad has the following data for 2021: Gross income, Philippines-P975,000 Expenses, Philippines-P750,000 Gross income, Indonesia - P770,000 Expenses, Indonesia - P630,000 Interest on bank deposit. Philippines P25,000 Assets-P15,000,000 Determine the income tax due assuming Korporasyon is a non-resident foreign corporation.
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To calculate the income tax payable for Korporasyon Corporation a domestic corporation classified as an MSME under the CREATE Law we need to consider ... View the full answer
Related Book For
Accounting Principles
ISBN: 978-1119048473
7th Canadian Edition Volume 2
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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