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Please help. Thank you! ABC Corporation is organized and operating under the Philippine law. The following data were taken from the financial statements of ABC
Please help. Thank you!
ABC Corporation is organized and operating under the Philippine law. The following data were taken from the financial statements of ABC Corporation for the current taxable year (2020): Philippines Abroad Gross sales P10,000,000 P5.000.000 Sales returns 200,000 Cost of goods sold 3,500,000 2,250,000 Operating expenses 2,800,000 1,100,000 Interest income from trade receivable 100,000 50,000 Interest income from BPI deposits - Phils. 100,000 Interest income from BPI deposit - USA 80,000 Interest income - FCDU 150,0001 Income from money market placement 200,000 100,000 Dividend income from domestic corporation 75,000 Dividend income from resident corporation 45.000 Dividend income from non-resident corporation 30,000 Royalty income 50,000 25,000 Gain on sale of shares of stock of domestic corporation held as capital asset thru local stock exchange; Selling price-P500,000 (Note: shares of stock at par value) 120,000 Gain on sale of shares of stock of domestic corporation, held as capital asset directly to a buyer; Selling price-P650,000 (Note: shares of stock at par value) 150,0001 Gain on sale of real property in the Philippines not used in business. Cost P4,000,000; FMV P8,000,000. 5,000,000 How much is the documentary stamp tax on real property? O P135,000 O P120,000 O P75,000 P60,000
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