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A realty trader sold the following properties: Residential lot 1,200,000 Residential dwelling 2,000,000 Commercial lot 800,000 Total Gross Income 4,000,000 Are all of the items

A realty trader sold the following properties:

Residential lot 1,200,000

Residential dwelling 2,000,000

Commercial lot 800,000

Total Gross Income 4,000,000

Are all of the items subject to VAT? Explain your answer by highlighting the rules on sale of properties.

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