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    52055576

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    Garp Barroca
    Palawan sold a parking lot for P2,000,000 that had a zonal value of P2,500,000 and appraisal value of P1,800,000. Anderson disposed of a vacant lot for P3,000,000 that had an assessed value of P2,800,000 and zonal value of P3,500,000. Mr. Quezon exchanged stock investments worth P3,000,000 for stocks worth P4,500,000 that represented 60% of another company's stock. Mr. Talipao had various sources of income including business income, compensation, interest, royalties, capital gains, and dividends and taxes are due on different portions of income

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    52055576

    Uploaded by

    Garp Barroca
    24 views1 page
    Palawan sold a parking lot for P2,000,000 that had a zonal value of P2,500,000 and appraisal value of P1,800,000. Anderson disposed of a vacant lot for P3,000,000 that had an assessed value of P2,800,000 and zonal value of P3,500,000. Mr. Quezon exchanged stock investments worth P3,000,000 for stocks worth P4,500,000 that represented 60% of another company's stock. Mr. Talipao had various sources of income including business income, compensation, interest, royalties, capital gains, and dividends and taxes are due on different portions of income

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    Palawan sold a parking lot for P2,000,000 that had a zonal value of P2,500,000 and appraisal value of P1,800,000. Anderson disposed of a vacant lot for P3,000,000 that had an assessed value of P2,800,000 and zonal value of P3,500,000. Mr. Quezon exchanged stock investments worth P3,000,000 for stocks worth P4,500,000 that represented 60% of another company's stock. Mr. Talipao had various sources of income including business income, compensation, interest, royalties, capital gains, and dividends and taxes are due on different portions of income

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    24 views1 page

    52055576

    Uploaded by

    Garp Barroca
    Palawan sold a parking lot for P2,000,000 that had a zonal value of P2,500,000 and appraisal value of P1,800,000. Anderson disposed of a vacant lot for P3,000,000 that had an assessed value of P2,800,000 and zonal value of P3,500,000. Mr. Quezon exchanged stock investments worth P3,000,000 for stocks worth P4,500,000 that represented 60% of another company's stock. Mr. Talipao had various sources of income including business income, compensation, interest, royalties, capital gains, and dividends and taxes are due on different portions of income

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    1. Palawan sold its parking lot for P2,000,000.

    The lot has a zonal value of P2,500,000 and appraisal


    value of P1,800,000. The capital gains tax on the sale of the lot is?
    2. Anderson disposes a vacant lot for P3,000,000. The lot has an assessed value of P2,800,000,
    zonal value of P3,500,000. What is the capital gains tax?
    3. Mr. Quezon exchanged his stock investment in the Stocks of Carmen Corporation for the shares
    of stock of Dingalan Corporation. The stocks acquired by Mr. Quezon represents 60% of the stock
    of Dingalan Corporation.

    Basis of the stocks given P 3,000,000


    Fair market value of stocks given 5,000,000
    Fair market value of received 4,500,000

    What is the capital gains tax?


    4. Mr. Talipao derived the following income in 2011:

    Business income 200,000


    Compensation Incom 300,000
    Interest income from 6/6 lending 100,000
    Interest income from bank deposits 20,000
    Royalty income 100,000
    Capital gain on sale of personal car 20,000
    Capital gain on the sale of stocks directly to buyer 40,000
    Ordinary gain on sale of old office furniture 10,000
    Dividend income 50,000

    a. Compute for total passive income and tax due subject to final tax.
    b. Compute for total income tax subject to regular tax and tax due
    c. Compute for capital gain and tax due subject to capital gains tax.

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