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Compute the surcharge and interest penalty due

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Problem 1: Bangko Illustrado failed to withhold the final tax on the P1,200,000 interest expense which was credited to various accounts of individual depositors in the month of April 2016. It wants to settle the unpaid final withholding tax on June 10, 2017. Compute the surcharge and interest penalty due.

a. P 450, 000

b. P 320, 000

c. P 64, 000

d. P 58, 000

Reference no: EM132802721

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