The taxpayer had the following data at the end of the current year:

Total Assets, excluding land - P60 million	Philippines	South Korea
INCOME
Sales	P15,000,000	P5,000,000
Rentals	600,000	0
Interest from Peso bank deposit	40,000	0
Interest from FC bank deposit	30,000	50,000
Royalties from patents	100,000	150,000
Dividends from domestic corporation	100,000	0
COSTS & EXPENSES
Cost of goods sold	6,000,000	2,000,000
Salaries & wages	4,000,000	2,500,000
Interest expense	600,000	0
Other operating expenses	1,200,000	800,000

Assuming that the taxpayer is a domestic corporation claiming optional standard deduction, how much is the income tax due for the year?

Group of answer choices

P1,920,000

P1,800,000

P1,536,000

P3,000,000

ABC Corporation, a domestic corporation, owns 18% of the outstanding shares of Apple Corporation, a non-resident foreign corporation since August 1, 2015. On April 30, 2021, it received dividends amounting to P1,000,000 from Apple Corporation. In 2022, ABC Corporation utilizes the dividends received for its working capital requirements. What is the tax treatment of the dividends by ABC Corporation from Apple Corporation?

Group of answer choices

Dividends are subject to 20%/25% regular corporate income tax.

Dividends are subject to 10% final tax.

Dividends are subject to 25% final tax.

Dividends are tax-exempt.

A domestic corporation, with total assets, excluding land, of more than P100 million, has the following tax information for taxable years 2021 and 2022:

	2021 (6th year of Operations)	2022 (7th year of Operations)
Gross income	P5,000,000	P8,000,000
Actual operating expenses	7,000,000	3,000,000
Net capital loss (other than from domestic shares of stock and real property)	1,000,000	500,000

How much is the income tax due for taxable year 2021?

Group of answer choices

P750,000

P100,000

P0

P50,000

A domestic corporation, with total assets, excluding land, of more than P100 million, has the following tax information for taxable years 2021 and 2022:

	2021 (6th year of Operations)	2022 (7th year of Operations)
Gross income	P5,000,000	P8,000,000
Actual operating expenses	7,000,000	3,000,000
Net capital loss (other than from domestic shares of stock and real property)	1,000,000	500,000

How much is the income tax PAYABLE for taxable year 2022?

Group of answer choices

P1,250,000

P1,150,000

P1,125,000

P700,000