the total surcharges (exclusive of interest) is
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12. Kookie, a resident of and working in Manila, filed his income tax return and paid the tax or taxable year 2021 on June 15, 2022 in Naga City. If the amount of tax shown thereon is PHP 12,000, the total surcharges (exclusive of interest) is
a. PHP 6,000
b. PHP 3,000
c. PHP 9,000
d. PHP 15,000
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Solved in 2 steps
- 4. A taxpayer did not file his income tax return for taxable year 2019 on time. On March 12, 2022, he was notified by the BIR of his failure to file the return. The taxpayer filed the return and paid the tax on April 15, 2022. Assuming that the basic tax is PHP 120,000, the total amount payable is a. PHP 210,000 b. PHP 208,800 c. PHP 156,000 d. PHP 180,00010. A taxpayer filed his income tax return on October 28, 2020. The deadline for the return was April 15, 2020. If he has P40,000 net tax due, compute the penalties in the form of interest. * О а. Р 2,564 O b. P 2,590 O c. P 2,538 O d. P 2,57827. Mr. Gusion filed his 2019 income tax return and paid the tax shown thereon in the amount of P10,000 on July 15, 2021. The total amount payable is a. P10,000 b. P12,500 c. P13, 999 d. P15,000
- Based on ph Joji, a resident citizen, has the following cumulative data from January to June 30, 2021: Sales, P2 million; Salary, P1 million. In the 3rd quarter of 2021, he has Sales of P500,000 and a Salary of P100,000. How much Sales and Salary, respectively, shall be declared by Joji in the 3rd quarter income tax return for the taxable year 2021? A.P500,000 and P100,000 B.P2,500,000 and zero, respectively C.P2,000,000 and P1,100,000 D.P2,500,000 and P1,100,000 E.None of the above61. Inday is a medical doctor. Inday’s total gross receipts from year 2020 amounted to Php 4,250,000.00 while the cost of service and operating expenses were Php 1,150,000.00 and Php 500,000.00, respectively. She opted to avail of the 8% preferential taxation in her 1st Quarter ITR. The total income tax payments made by Inday from 1st quarter to 3rd quarter amounts to P 220,000 and the total tax withheld (expanded withholding tax) by her clients is equivalent to 10% from which she received her BIR Form 2307s. What is Inday’s CORRECT income tax payable35. Marco is a medical doctor. Inday’s total gross receipts from year 2020 amounted to Php 4,250,000.00 while the cost of service and operating expenses were Php 1,150,000.00 and Php 500,000.00, respectively. He opted to avail of the 8% preferential taxation in her 1st Quarter ITR. What is Marco's correct income tax payable?
- A taxpayer filed his income tax return in October 28, 2022. The deadline for the return was April 15, 2022. If he has P40,000 net tax due, compute the penalties in the form of interest. What is the total surcharge penalty? P0 P10,000 P8,000 P20,000 ADD EXPLANATION, THANKS47. In preparing the 2021 Annual Income Tax Return of Nicanor, the following information were culled from his accounting records: Gross sales – Php 2,500,000 Cost of sales – Php 1,000,000 Salaries and wages – Php 100,000 Rent Expense – Php 100,000 Depreciation – Php 100,000 Utilities Expense – Php 100,000 Repairs and Maintenance – Php 100,000 Other income: Rental income – Php 1,000,000 Interest income from bank deposits in Bank of the Pelepens – Php 100,000 Dividends from ABC Corp., a DC – Php 100,000 Cash Prizes – Php 100,000 The duly filed 1st quarterly income tax return indicated that Nicanor opted 8% taxation. In addition, he provided…Please no written by hand solutions In 2022, Mr Kind, a resident of Alberta and has a taxable income of $122,500. Calculate his 2022 federal Tax Payable before consideration of credits based on the 2022 tax table. You can use the Income Tax Calculator on week 4 section. Note: Answers should be in whole number. No $, comma or decimals e.g. 15000.
- 16. Wyatt Industries, an accrual-method and calendar year taxpayer, paid $12,000 in real estate taxes on October 1, 2021, covering the period October 1, 2021, to September 30, 2022. The amount of real estate taxes Wyatt can deduct as a business expense in 2021 is: a. b. C. d. e. $12,000. $6,000. $3,000. $0. none of the above.Exercise 12-24 (LO. 6) In 2023, Miranda records net earnings from self-employment of $168,500. She has no other income. Determine the amount of Miranda's self-employment tax and her AGI income tax deduction. In your computations, for the tax liability, round interim amounts to two decimal places and the final answer to the nearest whole dollar. For the AGI deduction, if necessary, use amounts that have been rounded to the nearest dollar. Miranda's self-employment tax is s X and she has a s X deduction for AGI.Note: Apply Philippine Taxation Nicanor registered as a non-VAT taxpayer in 2019 with a capital of Php 100,000. His summary of gross sales are the following: 2019 - Php 1,000,000 2020 - Php 4,000,000 2021 - Php 2,000,000 How much is the total percentage tax due in 2021 assuming Nicanor updated his registration in 2020 and has not made any changes in 2021?