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Determine the allowable deduction for sunrise company

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Reference no: EM132789558

USE THE PHILIPPINE TAXATION SYSTEM.

SALES:

Manufacturing operations for the domestic market- 3,000,000

Sunrise Manufacturing is a manufacturer of various products with complex business operations subject to different tax regimes. During the period, it has the following details of income and expenses

Operations in less developed areas registered with BOI under ITH - 2,000,000
Export Operations registered with PEZA - 5,000,000

DIRECT COST:

Manufacturing operations for the domestic market- 2,000,000
Operations in less developed areas registered with BOI under ITH - 1,000,000
Export Operations registered with PEZA - 3,000,000

TRACEABLE EXPENSES

Manufacturing operations for the domestic market- 300,000
Operations in less developed areas registered with BOI under ITH - 200,000
Export Operations registered with PEZA - 400,000

Sunrise Manufacturing has a total of 1,200,000 administrative expenses that are not traceable to a specific type of operations during the year.

Required:

Problem 1: Determine the allowable deduction for sunrise company

 

Reference no: EM132789558

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