Shell Philippines, a multinational company, has a total gross income for a particular year of P 50,000,000. The taxable income after taking all deductions except for depletion is P 18,500,000. What is the allowable depletion allowance for that particular year? Take percentage of gross income for oil as 22%?
(A) P 9,358.41
(B) P 9,228.45
(C) P 9,250.00
(D) P 9,308.45
| Share this... |
 Facebook
|
 Twitter
|
 Linkedin
|
 Whatsapp
|
Your email address will not be published. Required fields are marked *