Ben purchased a brand-new car. A portion of the selling price was financed by a bank which the car was mortgaged was in turn mortgaged to the latter. The amount of the mortgage is P600,000. In addition, Ben donated a parcel of land to the government for exclusively public use. Market value per tax declaration is P1M while the zonal value is P800,000. Requirement: 1. Total documentary stamp tax due

Ben purchased a brand-new car. A portion of the selling price was financed by a bank which the car was mortgaged was in turn mortgaged to the latter. The amount of the mortgage is P600,000. In addition, Ben donated a parcel of land to the government for exclusively public use. Market value per tax declaration is P1M while the zonal value is P800,000. Requirement: 1. Total documentary stamp tax due

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter11: Partnerships: Distributions, Transfer Of Interests, And Terminations

Section: Chapter Questions

Problem 33P

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