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In the philippines Mr. Cloud, the trustee or grantor, created a revocable trust over a certain parcel land, designating Noctis and Vaan as trustee and
In the philippines Mr. Cloud, the trustee or grantor, created a revocable trust over a certain parcel land, designating Noctis and Vaan as trustee and beneficiary, respectively. In this case, the income of the trust property is taxable to:
- Cloud
- Vaan
- Noctis
- the trust.
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