Income Taxation Ikindly go over the following exercises for Corporations following the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) Act, Republic Act No. 11534 Present your solutions in logical and good accounting form XYZ Corporation, a manufacturer, has a gross sales of P190M for CY 2021, its 2nd year of operation. Its total assets amounted to P50M, net of the value of the land of P6M where its manufacturing plant and business operations are situated. Its cost of sales and allowable operating expenses amounted to P100M and P85M, respectively. Compute for its Income Tax Due for CY 2021.
Income Taxation Ikindly go over the following exercises for Corporations following the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) Act, Republic Act No. 11534 Present your solutions in logical and good accounting form XYZ Corporation, a manufacturer, has a gross sales of P190M for CY 2021, its 2nd year of operation. Its total assets amounted to P50M, net of the value of the land of P6M where its manufacturing plant and business operations are situated. Its cost of sales and allowable operating expenses amounted to P100M and P85M, respectively. Compute for its Income Tax Due for CY 2021.
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter18: Comparative Forms Of Doing Business
Section: Chapter Questions
Problem 16P
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Income
Ikindly go over the following exercises for Corporations following the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) Act, Republic Act No. 11534
Present your solutions in logical and good accounting form
XYZ Corporation, a manufacturer, has a gross sales of P190M for CY 2021, its 2nd year of operation. Its total assets amounted to P50M, net of the value of the land of P6M where its manufacturing plant and business operations are situated. Its cost of sales and allowable operating expenses amounted to P100M and P85M, respectively. Compute for its Income Tax Due for CY 2021.
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