Mr. John Wick operates books stores and renders services as a professional broker. In 2018, his gross sales amounted to P800,000. In addition to that, he received P300,000 from his

Mr. John Wick operates books stores and renders services as a professional broker. In 2018, his gross sales amounted to P800,000. In addition to that, he received P300,000 from his services as a broker. Assume that he failed to signify his intention to be taxed at 8% income tax rate on gross sales in his initial Quarterly Income Tax Return, and he incurred the cost of sales and operating expenses amounting to P600,000 and P200,000, respectively. is the income tax due to John Wick in his quarterly income tax?

Need your ASSIGNMENT done? Use our paper writing service to score better and meet your deadline.


Click Here to Make an Order Click Here to Hire a Writer