Question
Mr. Uno had the following records of his horse races in the current month of 20X1: Horse Type of winnings Gross winnings Cost of Winnings
Mr. Uno had the following records of his horse races in the current month of 20X1:
Horse | Type of winnings | Gross winnings | Cost of Winnings |
A | Trifecta | P90,000 | P40,000 |
B | Ordinary | 250,000 | 50,000 |
C | Double | 50,000 | 10,000 |
D | Ordinary | 175,000 | 25,000 |
How much is the total documentary stamp tax?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
To calculate the total documentary stamp tax for Mr Unos horse race winnings we need to determine th...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
