Solution-Compute the income tax due if the corporation is a

Compute the income tax due if the corporation is a resident

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Reference no: EM132721275

A resident foreign corporation reported the following income in its 2nd year of operation:

Taxable income, within the Philippines - 500,000

Taxable income, without the Philippines - (400,000)

Problem 1: Compute the income tax due

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 resident foreign corporation

Reference no: EM132721275

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Compute the income tax due if the corporation is a resident

Reference no: EM132721275

Reference no: EM132721275

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