A corporation is closing its business on December 31, 2021 due to nancial incapacity after being hit

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A corporation is closing its business on December 31, 2021 due to nancial incapacity after being hit by the Covid'l 9 pandemic. The accountant prepared the necessary documents for the closure such as the Annual Income Tax Return and Audited Annual Financial Statements. In the Audited Annual Financial Statements of the company, there was an ending inventory balance amounting to Php1,250,000.00. What is the tax implication of the ending inventory balance of the company

Posted Date: Jun 21, 2024 04:09 PM

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A corporation is closing its business on December 31, 2021 due to nancial incapacity after being hit

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