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Kindly answer with complete solution. Needed ASAP. Zee Po Gee Cooperative is a credit cooperative operating in the whole Province of Benguet including Baguio City.
Kindly answer with complete solution. Needed ASAP.
Zee Po Gee Cooperative is a credit cooperative operating in the whole Province of Benguet including Baguio City. At the end of taxable year 2021 , the accumulated reserves and undivided net savings of the cooperative totaled P15,000,000. The following data are lifted from the financial plan of the cooperative for the taxable year 2022: Deductions 600,000600,000300,000300,000 1. Calculate the income tax from the credit-related services rendered to their members. Answer: 2. Calculate the income tax from the credit-related services rendered to their nonmembers. Answer: 3. Calculate the income tax from the non-credit-related services rendered to their members. Answer: 4. Calculate the income tax from the non-credit-related services to their nonmembers. Answer: 5. The following internal revenue taxes are required from all cooperatives regardless of classification, except a. Capital Gains Tax from the sale, exchange or other disposition of real property classified as regular business assets b. Documentary stamp taxes on transactions of cooperatives dealing with nonmembers, except transactions with banks and insurance companies c. Withholding tax on compensation/wages, except in the case where an employee is a minimum wage earner d. VAT billed on purchases of goods and services, except the VAT on the importation by agricultural cooperatives of direct farm inputs, machineries and equipment, including spare parts thereof, to be used directly and exclusively in the production and/or processing of their produceStep by Step Solution
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