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ABC Co is engaged in different business activities in the Philippines. During the year, the company has the following business transactions: Receipts as promoter of
ABC Co is engaged in different business activities in the Philippines. During the year, the company has the following business transactions:
- Receipts as promoter of international concerts - P 4,000,000
- Receipts as exhibitor of UAAP basketball games in DLSUD - 1,000,000
- Receipts as franchise holder of a food chain (Jollibee chicken towel)- 2,800,000
- Receipts as cable TV operator (receipts last year is P 12M) - 3,000,000
- Receipts as reseller of wines and beers - 1,200,000
- Receipts as producer/manufacturer of cigarettes - 2,000,000
- Receipts as distributor of mineral water in Dasmarinas City - 2,500,000
- Receipts as owner of a building in QC (rentals is P 14,500/unit) - 3,000,000
- Receipts as owner of several apt units in QC (rentals is 16k/unit) - 1,760,000
- Receipts as distributor of seafoods in Cavite area - 3,000,000
- From the following data above, ascertain the business tax liability of the company:
BUSINESS TAX LIABILITY (Percentage Tax,
Excise Tax or Documentary Stamp Tax)
AMOUNT OF TAX a. b. c. d. e. f. g. h. i. j.
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