Mazel Inc. had the following income in 2022: Compute based on taxation in the Philippines Rent...
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Mazel Inc. had the following income in 2022: Compute based on taxation in the Philippines Rent income Dividend - domestic Dividend - foreign corporation Royalties Business expenses 6,320,000 80,000 65,000 120,000 2,890,000 5,600,000 28,000 560,000 3,200,000 a. Compute for the taxable income of the corporation being domestic corporation b. Compute for the income tax due of case (a). c. Compute the tacable income assuming Mazel was a resident foreign corporation. d. Compute for the income tax due of case (c). e. Compute for the total tax if Mazel was a non resident foreign corporation and no tax sparing rule is applicable. Mazel Inc. had the following income in 2022: Compute based on taxation in the Philippines Rent income Dividend - domestic Dividend - foreign corporation Royalties Business expenses 6,320,000 80,000 65,000 120,000 2,890,000 5,600,000 28,000 560,000 3,200,000 a. Compute for the taxable income of the corporation being domestic corporation b. Compute for the income tax due of case (a). c. Compute the tacable income assuming Mazel was a resident foreign corporation. d. Compute for the income tax due of case (c). e. Compute for the total tax if Mazel was a non resident foreign corporation and no tax sparing rule is applicable.
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Related Book For
Principles Of Taxation For Business And Investment Planning 2023
ISBN: 9781264229741
26th Edition
Authors: Sally Jones, Shelley Rhoades-Catanach, Sandra Callaghan, Thomas Kubick
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