Solution-Compute the income tax due

Compute the income tax due

Reference no: EM132939964

Question - San Miguel Beer Corporation, a retailer, has a gross sales of P 13,000,000 with cost of sales of P 5,200,000 and allowable deductions of P 1,300,000 for the taxable year ending June 30, 2021. Its total assets of P 145,000,000 as of June 30, 2021 per Audited Financial Statements includes the land costing P 50,000,000 and building of P 20,000,000 in which the business entity is situated, with an aggregate amount of P 70,000 as Fixed Assets. Taxable year 2021 is the 4th year of operation of the corporation, compute the income tax due.

Reference no: EM132939964

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Compute the income tax due : San Miguel Beer Corporation, a retailer, has a gross sales of P 13,000,000 with cost of sales of P 5,200,000. Compute the income tax due

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Compute the income tax due

Reference no: EM132939964

Reference no: EM132939964

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