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How much is the applicable tax on the distributive share

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Problem 1: TG Partnership reported for year net profit from trading amounting to P800,000. The other income included interest income of P8,000, net of 20% final withholding tax, and dividend income from domestic corporation of P20,000 (gross of tax). Assuming T and G share profits and losses equally, how much is the applicable tax on the distributive share of T in the earnings of that partnership?

a. P28,700
b. P29,400
c. P28,600
d. P28,000

Reference no: EM132830515

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