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In 2019, J Corporation bought a condominium unit on installment for the use of its executive. The acquisition cost inclusive of 12% interest is P6,720,000.
In 2019, J Corporation bought a condominium unit on installment for the use of its executive. The acquisition cost inclusive of 12% interest is P6,720,000. The fair market value of the property per Tax Declaration is P6,800,000 while the zonal value is P6,500,000.
Assume the ownership over the property will be transferred to the executive, how much is the fringe benefit tax? explain the solution
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