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How much is receipts exempt from business tax

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Reference no: EM133139362

Question - A farming cooperative had the following receipts during the month (vat exclusive):

 

Related activities

Unrelated activities

Receipts from members

P1,400,000

P500,000

Receipts from non- members

600,000

100,000

Total

P2,000,000

P600,000

If accumulated reserves exceed P10M, how much is receipts exempt from business tax?

If accumulated reserves of coop do not exceed P10M, how much is subject to business tax?

If accumulated reserves of coop do not exceed P10M, how much is receipts exempt from business tax?

If accumulated reserves exceed P10M, how much is subject to business tax?

Reference no: EM133139362

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