From the following details of sale by a resident citizen of his principal residence located in the Philippines: Cost - P1,000,000 Fair value - P6,000,000 Selling price - P5,500,000 All requirements under the law on tax exemption have been complied with. How much will be deposited by taxpayer (seller) in favor of the government (BIR)?

From the following details of sale by a resident citizen of his principal residence located in the Philippines: Cost - P1,000,000 Fair value - P6,000,000 Selling price - P5,500,000 All requirements under the law on tax exemption have been complied with. How much will be deposited by taxpayer (seller) in favor of the government (BIR)?

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter9: Taxation Of International Transactions

Section: Chapter Questions

Problem 7DQ

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