Compute the income tax due if the corporation is a private

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Reference no: EM132721281

A corporate taxpayer had the following data on its first year of operation:

Net income, Philippines - 50,000

Net income, Abroad - 150,000

Problem 1: What is the tax due assuming the taxpayer is a resident foreign corporation?

Berkshire Corporation reported the following gross income and expenses in 2020:

Philippines

Gross income - 400,000

Expenses - 200,000

Abroad

Gross income - 300,000

Expenses - 150,000

Problem 2: Compute the income tax due if the corporation is a private proprietary educational institution or a non-profit hospital majority of its income is from related activities

Reference no: EM132721281

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