Mr. Redmare, a resident citizen of the Philippines, had shares of stock of a domestic corporation held as investment that he acquired for a purchase price of P250,000, excluding acquisition expenses of P7,500. The shares were not listed and traded in the local stock exchange. He sold the shares directly to the buyer for a selling price of P500,000 when the FMV was P450,000. He incurred selling expenses of P13,500. How much is the capital gains tax?

Mr. Redmare, a resident citizen of the Philippines, had shares of stock of a domestic corporation held as investment that he acquired for a purchase price of P250,000, excluding acquisition expenses of P7,500. The shares were not listed and traded in the local stock exchange. He sold the shares directly to the buyer for a selling price of P500,000 when the FMV was P450,000. He incurred selling expenses of P13,500. How much is the capital gains tax?

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter18: Comparative Forms Of Doing Business

Section: Chapter Questions

Problem 31P

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