The 2021 earnings of Sergio, Giox Land Inc./Milan Inc taxes withheld., and the total tax due quarterly
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The 2021 earnings of Sergio, Giox Land Inc./Milan Inc taxes withheld., and the total tax due quarterly after deducting the 5% are shown below. He registered as an 8% taxpayer from the previous years. However, on December 20, 2021, he discovered that his total revenue is P3,181,124.84. He is now eligible for 12% VAT and used Optional Standard Deduction because he did not keep the receipt of his operating expenses. Questions: 1. HOW MUCH INCOME TAX SHOULD SERGIO PAY? Show the Computation. 2. WHEN SHOULD HE PAY IT? 3. HOW SHOULD SERGIO PAY HER INCOME TAXES?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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