How much is billie income tax due for the year

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Problem 1: Billie operates a 24/7 convenience store. On the side, he also offers accounting services to his clients. In 2021, his gross sales amounted to P800,000.Billie also earned P300,000 from his accounting services of P300,000.00. Billie failed to signify his intention to be taxed at 8% income tax rate on gross sales in his initial Quarterly Income Tax Return. He incurred cost of sales and operating expenses amounting to P600,000.00 and P200,000.00, respectively. How much is Billie' income tax due for the year?

Reference no: EM132887270

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