In computing the income tax, a fractional part of a peso less P0.

50
shall be disregarded. If the fractional part is P0.50 or more it shall be rounded
to P1.00
Example:
Amount of computed income tax P17, 590.45
Correct amount of income tax P17, 590.00

Amount of computed income tax P 59,016.60

Correct amount of income tax P 59,017.00

Amount of computed income tax P 59,016.50

Correct amount of income tax P 59,017.00