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Tax Calculation for Mr. Swabe's Business

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Rochelle Manayao
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2 views9 pages

Tax Calculation for Mr. Swabe's Business

Uploaded by

Rochelle Manayao
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

1. D 6. B 11. 16. 21.

2. A 7. 12. 17. 22.


3. C 8. 13. 18. 23.
4. B 9. 14. 19. 24.
5. B 10. 15. 20. 25.

1-2
3. SOLUTION:

8% income tax due is not applicable because the nature of business


of Mr. Swabe is subject to Other Percentage Tax under Sec 125 of
the Tax Code. Hence, Mr. Swabe is subject to the graduated income
tax rate instead.

4-5

6.

7.

8.

9. 10
10-11

340,000-250,000= 90,000 × 15%= 13, 500


12-14
15.
16
17-18.

19-20
21-23
24-25

1. D 6. B 11. 16. 21.


2. A 7. 12. 17. 22.
3. C 8. 13. 18. 23.
4. B 9. 14. 19. 24.
5. B 10. 15. 20. 25.

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