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Determine the income tax due

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Reference no: EM133117185

Question - Hayabusa is a resident citizen, earning compensation and business income for 20 as follows: Compensation income P1,400,000 Gross sales 2,800,000 Cost of sales 1,200,000 Operating expenses 650,000 The business is not vat-registered. Determine the income tax due assuming Hayabusa opted to be taxed using 8% preferential income tax.

Reference no: EM133117185

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