TOPIC: INCOME TAXATION OF CORPORATION DOMESTIC CORP

For 1-5, answer it as Right or wrong (explain why is it so)

For 6-10, provide the answer

NOTE: Base the answer on this document. Use this as a guide on answering. There is an audio file attached to each slide. Play it for clarification and explanation. Thanks!

https://drive.google.com/file/d/1Z3gG3Sfupt-a50Qxj2XGcsk-H653fcbt/view?usp=sharing

ASSIGNMENT MODULE 8 U1 DOMESTIC CORP PREFERRENTAIL TAX RATE-1 [Protected View] - Excel Ella Jane Navera X File Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do Share PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing X C18 X v fx A B C D E F G H J K L M 4 Print your name here Private educational institution enjoying 10% preferential tax rate is also subject to 2% 1 MCIT starting on the 4th year of its operation Non profit hospitals will also qualify to the preferential tax rate of 10% on its taxable 2 income if this hospital is a domestic corporation. LD CO If a duly accredited private educational institution is engaged in unrelated business and 3 its main business income is more than 50% of the total business income, it can still enjoy 10 the prerential tax rate of 10% on its net taxable income. 11 In the 1702 of domestic private educational institution it in indicated total business 4 income of P10,000,000 and 60% of that is from unrelated business activities. Its income tax liablity is 2% of the gross business income or 30% of the net taxable income which ever is 12 higher. 13 Income of a holding compnay which is not distributed as dividend within one year from 5 14 balance sheet date is liable to improperly accumulated earning tax of 10% 15 6 A domestic private educational institution reported business income of P25M from its educational activities. If it elected for standard deduction, its income tax due in its 1702 is 16 17 After the fourth year of business operation of domestic private educational institution it sol mou1 + + 100% Type here to search W N X ADD ) ENG 4:45 pm 29/03/2021ASSIGNMENT MODULE 8 U1 DOMESTIC CORP PREFERRENTAIL TAX RATE-1 [Protected View] - Excel Ella Jane Navera X File Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do Share PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing X C18 X v fx A B C D E F G H J K L M 6 A domestic private educational institution reported business income of P25M from its educational activities. If it elected for standard deduction, its income tax due in its 1702 is 16 17 After the fourth year of business operation of domestic private educational institution it 7 reported P25M gross business income and P15M of this was earned from its main business activities. If it elected for standard deduction, Its income tax liability In its 1702 is 18 19 After the fourth year of business operation of domestic private educational institution it 8 reported P25M gross business income and P15M of this was earned from unrelated business activities. If it elected for standard deduction, Its income tax liability In its 1702 is 20 21 A family corporation reported its net income after tax at P5,000,000. All of its income are from its business operation which is subject to normal income tax rate of 30%. If all this 9 income is declared as cash dividend to its family member share holders, the final 22 withholding tax to be withheld is 23 A family corporation reported its net income after tax at P5,000,000. All of its income are from its business operation which is subject to normal income tax rate of 30%. If all this 10 income is not declred as dividend within one year, the improperly accumulated earning 24 tax is Dropbox X 25 26 Screenshot Added 27 A screenshot was added to your sol mou1 + Dropbox. Type here to search X 4:46 pm ADD ) ENG 29/03/2021