Chloe is a VAT-registered sole proprietor whose annual gross receipts is only P2,500,000. Halle, on the other hand, is an employee whose annual compensation is only P2,000,000. Who among them can avail of the 8% income tax option? Both Chloe and Halle. O Neither Chloe nor Halle. O Halle only. Chloe only.

Chloe is a VAT-registered sole proprietor whose annual gross receipts is only P2,500,000. Halle, on the other hand, is an employee whose annual compensation is only P2,000,000. Who among them can avail of the 8% income tax option? Both Chloe and Halle. O Neither Chloe nor Halle. O Halle only. Chloe only.

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter19: Deferred Compensation

Section: Chapter Questions

Problem 1CPA

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