1. Mr. F, an officer of AMBS Corp. earned an annual compensation of…

Question Answered step-by-step 1. Mr. F, an officer of AMBS Corp. earned an annual compensation of… 1. Mr. F, an officer of AMBS Corp. earned an annual compensation of P1,200,000, exclusive of 13th month and other benefits in the amount of P120,000. How much is his income tax due? 2. A Minimum Wage Earner received from his employer an annual minimum wage salary of P180,000 and overtime pay, holiday pay, and night shift differential of P20,000. He also received 13th-month pay and bonuses of P20,000. Aside from this, he also earns from his online selling business a P30,000. How much is the income tax due? 3. X is an employee of POGO. He lives in Jazz Residences in Makati for 2 years already. In 2022, he earns taxable compensation income of P3,000,000. How much is his income tax due? 4. X earned P2,200,000 from the practice of her profession as a Certified Public Accountant. She, then, incurred P1,500,000 operating expenses during the taxable year. How much is X’s income tax due in line with the tax avoidance scheme? (Income Tax due on professional/business other income) 5. X, a VAT-registered, has gross receipts of P3,000,000 and taxable net income of P1,200,000 for the year. What is the lowest income tax he can pay without violating the tax code? 6. X operates a Jai-alai and race track, which is subject to 30% other percentage tax. Mr. V earned P3,000,000 for the taxable year and incurred P1,650,000 operating expenses. Compute X’s basic income tax. Law Social Science Tax law TAX 51 Share QuestionEmailCopy link Comments (0)