Question
In the Philippines, Mr. Cruz, a non-resident citizen and a non-dealer, sold domestic stocks for P10 million directly to Mr. Kobayashi, a resident alien. The
In the Philippines, Mr. Cruz, a non-resident citizen and a non-dealer, sold domestic stocks for P10 million directly to Mr. Kobayashi, a resident alien. The transaction resulted in a capital gain in the amount of P3 million. Which of the following is correct?
-The capital gains tax is P450,000.
-The stock transaction tax is P450,000.
-The capital gains tax is P60,000.
-The stock transaction tax is P60,000.
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Business Law Text and Cases
Authors: Kenneth W. Clarkson, Roger Miller, Frank B. Cross
14th edition
978-1305967250, 1305967259, 978-1337514422, 133751442X, 978-1337374491
