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    John Mark Soria
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    Gross Profit from Sales Operating Expenses Taxable Income MCIT at 2% Normal Tax at 30% Whichever is higher Less: Income tax of First Quarter Second Quarter Third Quarter Income Tax Due (refundable)

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    3-13

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    Gross Profit from Sales Operating Expenses Taxable Income MCIT at 2% Normal Tax at 30% Whichever is higher Less: Income tax of First Quarter Second Quarter Third Quarter Income Tax Due (refundable)

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
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    12 views1 page

    3 13

    Uploaded by

    John Mark Soria
    Gross Profit from Sales Operating Expenses Taxable Income MCIT at 2% Normal Tax at 30% Whichever is higher Less: Income tax of First Quarter Second Quarter Third Quarter Income Tax Due (refundable)

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    3-13

    Gross Profit from Sales


    Operating Expenses
    Taxable Income
    MCIT at 2%
    Normal Tax at 30%
    Whichever is higher
    Less: Income tax of
    First Quarter
    Second Quarter
    Third Quarter
    Income Tax Due (Refundable)

    First
    P400,000
    160,000
    240,000

    Second
    P600,000
    400,000
    200,000

    Third
    P700,000
    520,000
    180,000

    Year
    P900,000
    580,000
    320,000

    8,000
    72,000
    72,000

    12,000
    60,000
    60,000

    14,000
    54,000
    54,000

    18,000
    96,000
    96,000

    (72,000)

    (72,000)
    0

    72,000

    (12,000)

    (18,000)

    (72,000)
    0
    0
    24,000

    First
    P400,000
    160,000
    240,000

    Second
    P600,000
    400,000
    200,000

    Third
    P700,000
    520,000
    180,000

    Year
    P900,000
    580,000
    320,000

    8,000
    72,000
    72,000

    12,000
    60,000
    60,000

    14,000
    54,000
    54,000

    18,000
    96,000
    96,000

    (72,000)

    (72,000)
    0

    72,000

    (12,000)

    (18,000)

    (72,000)
    0
    0
    24,000

    First
    P400,000
    160,000
    240,000

    Second
    P600,000
    400,000
    200,000

    Third
    P700,000
    520,000
    180,000

    Year
    P900,000
    580,000
    320,000

    8,000
    72,000
    72,000

    12,000
    60,000
    60,000

    14,000
    54,000
    54,000

    18,000
    96,000
    96,000

    (72,000)

    (72,000)
    0

    (12,000)

    (18,000)

    (72,000)
    0
    0
    24,000

    3-13

    Gross Profit from Sales


    Operating Expenses
    Taxable Income
    MCIT at 2%
    Normal Tax at 30%
    Whichever is higher
    Less: Income tax of
    First Quarter
    Second Quarter
    Third Quarter
    Income Tax Due (Refundable)

    3-13

    Gross Profit from Sales


    Operating Expenses
    Taxable Income
    MCIT at 2%
    Normal Tax at 30%
    Whichever is higher
    Less: Income tax of
    First Quarter
    Second Quarter
    Third Quarter
    Income Tax Due (Refundable)

    72,000

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