THIS SUBJECT IS INCOME TAXATION

1 A domestic bank reports the following income from its regular banking (RBU) and foreign currency deposit unit (FCDU):

2 The income statement of Waterfall Corporation, a large corporation, is shown below:

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Interest from lending with FCDUS/OBUS Interest from lending to other residents Interest from lending to non-residents Less: Business expenses Net Profits Compute the total final tax. RBU FCDU 0 P 600,000 1,500,000 1,500,000 1,800,000 2,300,000 4,000,000 2,000,000 2,500,000 P 3,500,000 P Interest from lending with FCDUS/OBUS Interest from lending to other residents Interest from lending to non-residents Less: Business expenses Net Profits Compute the total final tax. RBU FCDU 0 P 600,000 1,500,000 1,500,000 1,800,000 2,300,000 4,000,000 2,000,000 2,500,000 P 3,500,000 P