True or false. explain

1. A business tax imposed on entity, with net income of 3,000,000 and expenses of 500,000 shall be subject to VAT

2. n individual earning income from compensation is also subject to business tax

Brief solution. Philippine Taxation

Ben, a resident citizen, earning compensation and business income for 2020 as follows: 1.200,000 Compensation income Gross sales Cost of sales 3,400,000 1,500,000 Operating expenses 550,000 How much is the total amount of tax to be paid by Ben