Multiple Choice

1. Which of the following is subject to 3% OPT under Sec 116 (seller of goods and services) of the tax code?

1. Seller of goods with gross sales of P 100,000 per year.
2. Seller of goods and services with gross sales of P 3.1M
3. A jeepney operator with gross receipts of P 2.1M only
4. A fruit dealer whose gross receipts amounted to P 2M only
5. None of the above