Consider the following in answering a set of questions: Nicanor is…

Question Answered step-by-step Consider the following in answering a set of questions: Nicanor is… Consider the following in answering a set of questions:Nicanor is a resident doctor of ABC Hospital. At the same time, he operates his own clinic. ABC Hospital and Nicanor’s clinic are both accredited by PhilHealth. The following were disclosed to you by Nicanor: Income from ABC Hospital:Gross Compensation – Php 2,800,00013th month pay and other benefits – Php 200,000SSS, Philhealth and other mandatory contributions – Php 50,000 Income from Clinic:Gross receipts:From Walk-in patients with issued receipts –  Php 1,000,000From patients paid for by Philhealth – Php 1,000,000  Expenses:Office Rental – Php 250,000Representation expense – Php 100,000Salary of staff nurse – Php 250,000Salary of family driver – Php 120,000Salary of kasambahay – 60,000Gas and oil – Php 50,000Utilities expense (office) – Php 100,000Utilities expense (house) – Php 250,000 Other information:Receipts from patients with no issued official receipts – Php 2,000,000Under-the-table (not reported) Commissions from pharmaceutical companies due to      referrals/prescriptions of medicines – Php 500,000Quarterly Income tax payments – Php 30,000Tax withheld by PhilHealth (with BIR Form 2307) – Php 100,000Tax withheld by ABC Hospital (with BIR Form 2316) – Php 300,000 If you are the Accountant of ABC Hospital, how much withholding tax should be withheld on Nicanor’s compensation for the year? b. 1,290,000a. 746,000c. 0d. 701,200     Law Social Science Tax law LAW TAX123 Share QuestionEmailCopy link Comments (0)