Practice question
An ordinary taxpayer outside the concessions incurs a 25% surcharge on P 120,000 principal. A qualifying small taxpayer incurs a 10% surcharge on the same stipulated principal in an otherwise equivalent ordinary nonfraud case. Compute the surcharge for each and identify what is excluded from your computation.
Legal references
- NIRC Section248(A), as amended by RA11976 Section41; RA11976 Section45(b); https://lawphil.net/statutes/repacts/ra2024/ra_11976_2024.html
- NIRC Section248(B); https://lawphil.net/statutes/repacts/ra1997/ra_8424_1997.html
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