TIMED TASK

Per the CREATE, which of the following are the conditions required to be met before a corporation may be allowed to enjoy a lower income tax rate of 20%? Net income of at least P5,000,000.00 and total assets of at least P100,000,000.00 (excluding land where the business is situated) Net income of at least P5,000,000.00 and total assets of at least P100,000,000.00 (inclduing land where the business is situated) Net income should not exceed P5,000,000.00 and total assets should not exceed P100,000,000.00 (including land where the business is situated) Net income should not exceed P5,000,000.00 and total assets should not exceed P100,000,000.00 (excluding land where the business is situated)