Raymond is a citizen and resident of the Philippines. He had a compensation income in 2023...

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Raymond is a citizen and resident of the Philippines. He had a compensation income in 2023 of P300,000 and a net income from business of P800,000. He made quarterly income tax payments of P123,000 and his employer withheld P22,000 on his compensation income. What is Raymond's income tax due? Raymond is a citizen and resident of the Philippines. He had a compensation income in 2023 of P300,000 and a net income from business of P800,000. He made quarterly income tax payments of P123,000 and his employer withheld P22,000 on his compensation income. What is Raymond's income tax due?

Answer rating: 100% (QA)

To calculate Raymonds income tax due we first need to determine his total taxable income by summing ... View the full answer