Alvaro Salvacion’s earnings are derived from commissions on the…

Question Answered step-by-step Alvaro Salvacion’s earnings are derived from commissions on the… Alvaro Salvacion’s earnings are derived from commissions on the sale of houses and lots. Georgina Land, Inc. withheld taxes. After deducting the 5%, Mr. Salvacion’s total tax is due quarterly. Mr. Salvacion is an 8% taxpayer. He has chosen to register as an 8% taxpayer because his total income from 2017 to 2019 will be less than P3 million. Mr. Salvacion did not keep receipts for his operating expenses. After all, he believed he did not need them because he paid a flat-rate income tax of 8%. But on December 20, 2020, he discovered that his total income had gone over P3 million.Questions:1. What would you recommend? Cite at least five recommendations. Explain each.2. Based on the recommendations, determine how much income tax Mr. Jeremiah should pay and when he should pay it. Explain. Law Social Science Tax law Share QuestionEmailCopy link Comments (0)