Mr. Park is a resident Filipino citizen working as a professional artist in a prestigious TV network. He earned an annual gross income of Php2.5M for the year 2021. He is a Non-VAT registered taxpayer. How much is the total income tax still due? Consider withholding taxes. 2. Using the facts in Number 5, if Mr. Park is a VAT-registered taxpayer, how much is his total income tax still due? Consider withholding taxes.

Mr. Park is a resident Filipino citizen working as a professional artist in a prestigious TV network. He earned an annual gross income of Php2.5M for the year 2021. He is a Non-VAT registered taxpayer. How much is the total income tax still due? Consider withholding taxes. 2. Using the facts in Number 5, if Mr. Park is a VAT-registered taxpayer, how much is his total income tax still due? Consider withholding taxes.

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter12: Alternative Minimum Tax

Section: Chapter Questions

Problem 30P

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1. Mr. Park is a resident Filipino citizen working as a professional artist in a prestigious TV network.He earned an annual gross income of Php2.5M for the year 2021. He is a Non-VAT registeredtaxpayer. How much is the total income tax still due? Consider withholding taxes. 2. Using the facts above, if Mr. Park is a VAT-registered taxpayer, how much is his total incometax still due? Consider withholding taxes.
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