The following are your clients as a Consultant:

S1 - an online seller of cakes and pastries whose gross sales amounted to Php 300,000
S2 - an employee whose gross compensation income amounted to Php 3 Million
S3 - a VAT-registered seller of goods whose gross receipts amounted to Php 1 Million
Who among them is qualified to use 8% optional income tax?

 

11.ABC Corp. registered in 2010 made available the following financial information for TY2021:

Balance Sheet:

Asset - Php 50,000,000

Liability - Php 30,000,000

Stockholders' Equity - Php 20,000,000

Income Statement:

Gross sales - Php 100,000,000

Cost of sales - Php 60,000,000

Operating Expenses - Php 50,000,000

 

How much is the income tax payable under CREATE if the taxpayer is a domestic corporation?