Taxation Compress
Taxation Compress
Taxation Compress
Graduated Table
Graduated Table
4. In 2020, Timmy owns a nightclub and videoke bar, with gross sales of
P2,500,000 with cost of sales and operating expenses of P1,000,000 and
P600,000, respectively and with non-operating income of P100,000.
a. How much is income tax due?
graduated Table
6. Ben Marino, a seaman, opened a joint bank account, under the expanded
foreign currency deposit system, with his wife. A month after, the bank
deposit earned interest in the amount of USD1,000 (foreign exchange rate is
P50 for every USD1).
a. The final tax due on the interest income is?