Man Lo Loko filed his income tax return for 2016 with a net taxable income of P1,
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Question:
Man Lo Loko filed his income tax return for 2016 with a net taxable income of P1, 000, 000. Subject to 32% , his income tax amounted to P285, 000, However upon investigation, it was found out that he did not report additional taxable income of P500, 000. The correct income tax due should have been P445, 000. The notice from the BIR became final. How much is the surcharge?
Related Book For
South Western Federal Taxation 2015
ISBN: 9781305310810
38th edition
Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young
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