P10.8.

In 2021, a self-employed resident citizen, paid the following taxes:

REQUIRED: If the taxpayer had signified in his return to avail of tax credit of foreign income tax
paid, how much deduction for taxes may he claim on his 2021 income? 92,750

P10.9.
In 2021, Omega Corporation incurred the following expenses in connection with the conduct of its
business:
• P100,000 worth of plane tickets and hotel bills of its employees who were sent to business
seminars.
• P136,000 transportation allowances of its officers from home to office and vice versa as part
of their employment contract, net of P64,000 withholding tax
• P80,000 transportation expenses of messengers from office to several clients
" P20,000 special assessment
REQUIRED: Determine the allowable expenses that could be deducted by Omega Corporation from
its gross income 380,000

Р10.10, rporation took ivo key men insurancer 1 Della 0 is Presicem.

Della Corporal In, one poloy. the benefalary. at / 0/ is Согроганом .
Mr. Massage it or is oxpocted lose in case, that policy. sr president. To compensate , loa promum» or
P50, 00 vocable peneloan, other polis;, company, Air, Mlastigasig3 vie as is irrevocable beneliciary.
Della pal,
P75,000 premiums on that policy.
REGUIRED: Determine the amount of allowable premium payment ther could be deducted by Delta
Corporation from its gross income. 75,000