Batibot, a resident citizen earned the ff incomes: Questions: 1. Income derived from sources WITHIN the
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Batibot, a resident citizen earned the ff incomes:
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Interest income on deposits in foreign bank Dividends from a domestic corporation Gain on sale of a condominium unit in Makati City, Philippines Gain on sale of a limousine in Los Angeles, California, USA Gain on sale of domestic shares of stocks Gain on sale of stocks issued by non-resident foreign corp. Gain on sale of personal properties located in Quezon City Business income in the Philippines Other information: Business expense in the Philippines Acquisition cost of domestic shares of stocks Selling price of condominium unit in Makati City Fair market value of condominium unit in Makati City (zonal) 50,000.00 150,000.00 500,000.00 200,000.00 200,000.00 100,000.00 250,000.00 300,000.00 200,000.00 100,000.00 600,000.00 1,000,000.00 Interest income on deposits in foreign bank Dividends from a domestic corporation Gain on sale of a condominium unit in Makati City, Philippines Gain on sale of a limousine in Los Angeles, California, USA Gain on sale of domestic shares of stocks Gain on sale of stocks issued by non-resident foreign corp. Gain on sale of personal properties located in Quezon City Business income in the Philippines Other information: Business expense in the Philippines Acquisition cost of domestic shares of stocks Selling price of condominium unit in Makati City Fair market value of condominium unit in Makati City (zonal) 50,000.00 150,000.00 500,000.00 200,000.00 200,000.00 100,000.00 250,000.00 300,000.00 200,000.00 100,000.00 600,000.00 1,000,000.00
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Based on your questions here are explanations for each of the terms Income derived from sources WITHIN the Philippines This refers to income earned fr... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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