When must election to claim either OSD or itemized deduction be done by a taxpayer? O...

  

 

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When must election to claim either OSD or itemized deduction be done by a taxpayer? O At the beginning of the year O During year-end adjustment in the annual ITR At the middle of the year O At any given time whenever deemed necessary A taxpayer whose gross annual receipts do not exceed PhP3,000,000.00 and is not VAT-registered is liable to pay percentage tax of 3% of their gross quarterly sales or receipts. O True O False When must election to claim either OSD or itemized deduction be done by a taxpayer? O At the beginning of the year O During year-end adjustment in the annual ITR At the middle of the year O At any given time whenever deemed necessary A taxpayer whose gross annual receipts do not exceed PhP3,000,000.00 and is not VAT-registered is liable to pay percentage tax of 3% of their gross quarterly sales or receipts. O True O False

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The detailed answer for the above question is provided below 1 The election to claim either the Opti... View the full answer