WebMar 31, 2024 · 0%. Royalties, rentals of property, real or personal, profits from exchange and all other items treated as gross income under Sec. 32 of the Tax Code, as amended. 7%. Net trading gains within the taxable year of foreign currency, debt securities, derivatives and other similar financial instruments. WebA resident citizen taxpayer sold a principal residence located in the Philippines. Other data regarding the sale are as follows: Selling price - P5,500,000 Fair market value - 6,000,000 Zonal value - 5,850,000 Expenses on sale - 275,000 The individual taxpayer was able to comply all the requirements for exemption, however, the new principal residence was …
Final Exam - TAXATION REVIEWER - 1 would be the allowable
Web1. A non-VAT taxpayer sold goods for P20,000, half of which are paid by the buyer who gave a promissory note for the balance. The output VAT is a. P0 b. P1,200 c. P2,400 d. P4,800. Note: A non-VAT taxpayer is not subject to VAT. 2. A VAT-taxpayer sold goods for P40,000 which excludes a P1,000 delivery charge and VAT. Weba. Salary received buy a managing partner of a general professional partnership. b. A passive income in the form of a prize won in a raffle amounting to P4,000. c. A gain from sale of a motor vehicle as another income of a taxpayer who is a compensation earner. scary fire alarm
TAX PDF Tax Deduction Taxpayer - Scribd
WebTaxpayer who registered with tax authority was issued a certificate of tax registration that contains its TIN. Under the new TIN regime, taxpayer who registers with industry & commerce authority will be issued a business licence that contains its Uniform Social Credit Code, which is also its TIN. WebA certain taxpayer shows the following over-the-counter transactions in the shares of a domestic corporation: Date Transaction Quantity Net price 2/8/2024 Purchase 10,000 P112,000 4/5/2024 Sale 10,000 110,000 5/1/2024 Purchase 8,000 80,000 6/7/2024 Sale 5,000 60,000 Compute the capital gain on June 7,2024 that is subject to capital gains tax. … http://www.saflii.org/za/cases/ZATC/2024/1.html ruman definition