BUISENESS MANAGEMENT
TAXES
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Assume the carrier is an international carrier ( a resident foreign corporation), the income tax due is
|
|
P150, 000
|
|
|
P250, 000
|
|
|
P1, 800, 000
|
|
|
P3, 000, 000
|
Explanation:
Detailed explanation-1: -Corporate Tax The corporate income tax rate both for domestic and resident foreign corporations is 30% based on net taxable income.
Detailed explanation-2: -1. International carriers doing business in the Philippine are subject to a tax of two and one-half percent (22%) based on their Gross Philippine Billings (GPB) pursuant to Section 28(A)(3) of the National Internal Revenue Code (NIRC) of 1997, as amended or to the applicable tax treaty rate. 6 2.
Detailed explanation-3: -If you deal with them, take note that for such income, you are responsible for withholding taxes thereon. An NRFC is generally taxable at 25% final withholding tax (FWT) and at 12% final withholding value-added tax (FWVAT).
There is 1 question to complete.