Taxpayer enjoyed its last year of its income tax holiday in 2020. For that year, it reported however a net loss of P500,000. For the taxable year 2021, it reported a net income of P300,000. How much...

Taxpayer enjoyed its last year of its<br>income tax holiday in 2020. For that<br>year, it reported however a net loss<br>of P500,000. For the taxable year<br>2021, it reported a net income of<br>P300,000. How much NOLCO must<br>have been used by the taxpayer in<br>2021? *<br>a. Zero<br>b. 100,000<br>c. 300,000<br>d. 500,000<br>

Extracted text: Taxpayer enjoyed its last year of its income tax holiday in 2020. For that year, it reported however a net loss of P500,000. For the taxable year 2021, it reported a net income of P300,000. How much NOLCO must have been used by the taxpayer in 2021? * a. Zero b. 100,000 c. 300,000 d. 500,000

Jun 09, 2022

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Taxpayer enjoyed its last year of its income tax holiday in 2020. For that year, it reported however a net loss of P500,000. For the taxable year 2021, it reported a net income of P300,000. How much...

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