23. Juan is a resident of QC. He sold his family home for P4,000,000 which was previously acquired for P2,000,000. Juan compiled all BIR requirements to avail of tax exemption and spent P2,500,000 in acquiring a new family home. How much is the capital gains tax to be paid by Juan? Use the following data for the next two (2) questions: A resident citizen, married, with two (2) qualified dependent children has the following data for the year 2021: Gross sales, Philippines P5,000,000, Sales returns and allowances, Philippines 500,000 Cost of sales, Philippines 1,500,000 Gross sales, Ukraine 3,000,000 Sales returns and allowances, Ukraine 200,000 Cost of sales, Ukraine 800,000 Business expenses, Philippines 500,000 Business expenses, Ukraine 300,000 Interest income, peso bank deposit BDO-Marikina 20,000 Interest income, US dollar deposit, BDO-Mandaluyong 50,000 Gain from sale of residential house and lot (selling price, 500,000 P3,000,000; FMV, time of sale, P5,000,000) Gain from sale of shares of stock listed and traded in the 30,000 local stock exchange (selling price, P100,000) Gain from sale of shares of stock not traded in the local 150,000 stock exchange 24. How much is the total final tax on passive income? 25. How much is the total final tax on passive income?26. Mr. X disposed of various stocks at a total consideration of P400,000 and paid thereon stock transaction tax of P2,000. Aggregate gains realized totaled P98,000 after the stock transaction tax. What is the capital gains tax? a. PO b. P4,900 c. P9,800 d. P14,700 27. When the annualized capital gains tax exceeds the transactional capital gains tax, the excess is a. Tax credit b. Tax refundable C. Tax payable d. A or B 28. Mr. Antonio disposed of his principal residence for P2,000,000 and immediately acquired a new one for P1,800,000. The old residence cost Mr. Antonio of P1,000,000 and had a fair market value of P2,500,000 on the date of sale. How much capital gains tax will be released to the taxpayer from the escrow? a. P150,000 b. P120,000 C. P135,000 P15,000 29. Which is not a feature of the regular income tax? a. Net income tax b. Final withholding tax C. Annual tax d. Creditable withholding tax 30. Mr. JC De Leon sold for P10,000,000 his Baguio rest house to K with a Fair Market Value of P12M. If K utilized P&M in acquiring a new principal residence, the capital gains tax payable by Mr. JC De Leon is: a. P 720,000 b. P 600,000 c. P 144,000 d. zero 31. A practicing professional, single, with his parents living and dependent upon him, revealed the following data for 2021 taxable year: In February, the taxpayer bought a lot deemed as a capital asset. The acquisition cost was P840,000. He later sold the lot in December for P1,060,000. In September, the taxpayer sold his 560 shares of stock of Ayala Investment Corporation held by him as capital asset, through a local stock exchange. The cost was P36,900 whereas the sales price was P154,000 In October, the taxpayer sold for P820,000 his house and lot located in Makati, held as a capital asset (not his principal residence). The fair market value on the date of sale was P950,000 and the acquisition cost was P475,000. Determine the Capital Gains Tax assuming the taxpayer is a Non-Resident Alien- Engaged in Trade in Business. a. 138,165 b. 120,600 c. 112,800 d. 63.600 32. Using the previous data, determine the Capital Gains Tax assuming the taxpayer is a Non-Resident Citizen. a. 138,165 b. 120.600 C. 112,800 d. 63.60040. Jose exchanged his A Company shares pursuant to a plan of consolidation where A Company will be integrated with B Company. The following relates to the exchange: Basis of A Company shares given P1,200,000 Cash paid to B Company 100.000 Fair value of A Company shares given 1.300,000 Fair value of B Company shares received 1.100,000 Fair value of other properties received from B Company 350,000 Compute the capital gains tax. a. PO b. P20.000 C. P22.500 d. P37.500