Question: The optional standard deduction?Answer base in philippine bustax Can be availed at the option of any individual taxpayer May be availed when the taxpayer opted

The optional standard deduction?Answer base in philippine bustax Can be availed at the option of any individual taxpayer May be availed when the taxpayer opted to be taxed under the 8% preferential income tax Is equivalent to 40% of the gross sales or receipts from self-employment, business or practice of profession Cannot be used as a deduction from compensation income

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