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Taxation is in Philippines. QUIZ 1 (CAPITAL GAINS AND LOSSES) GIVEN: ABC Corp. (a domestic corporation) in 2017 sold shares of stock for P250,000. The
Taxation is in Philippines.
QUIZ 1 (CAPITAL GAINS AND LOSSES) GIVEN: ABC Corp. (a domestic corporation) in 2017 sold shares of stock for P250,000. The shares, acquired in 2016 at cost of P100,000, were held as investment and were sold directly to a buyer. QUESTION 1. How much is the capital gains tax due? 2. How much is the capital gains tax assuming the shares were sold in 2018? (TRAIN LAW effectivity) 3. How much is the capital gains tax assuming the shares sold were not held for investment purposes and the seller is a dealer in securities? 4. Assume the shares sold were from a foreign corporation, what type of income tax will apply on the transaction? 5. How much is the tax due assuming the shares were sold through the local stock exchange in 2017? 6. How much is the tax due assuming the shares were sold through the local stock exchange in 2018? 7. How much is the capital gains tax assuming the shares sold were not held for investment purposes and the seller is a dealer in securities Step by Step Solution
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