1. BABY M CORPORATION DONATED SEVERAL PROPERTIES TO SANDRO ORGANIZATION IN 2019. SANDRO WOULD LIKE TO...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
1. BABY M CORPORATION DONATED SEVERAL PROPERTIES TO SANDRO ORGANIZATION IN 2019. SANDRO WOULD LIKE TO REGISTER THE SAID PROPERTIES UNDER THE NAME OF THE ORGANIZATION BUT THE BIR REFUSED TO ISSUE AN ELECTRONIC CERTIFICATE AUTHORIZING REGISTRATION TO SANDRO ORGANIZATION ON THE GROUND THAT DONOR'S TAX MUST BE PAID FIRST. DO YOU THINK THE BIR IS CORRECT? WHY OR WHY NOT? 2. WHAT ARE THE LIABILITIES OF BABY M CORPORATION IF ANY? WHAT ARE THE LIABILITIES OF SANDRO ORGANIZATION IF ANY? 3. WILL YOUR ANSWER BE THE SAME IF SANDRO ORGANIZATION IS A REGISTERED CHARITABLE INSTITUTION? 4. ASSUMING THAT INSTEAD OF DONATING TO SANDRO ORGANIZATION A DEED OF ABSOLUTE SALE WAS EXECUTED BETWEEN THE TWO WHAT WILL YOU ADVISE BABY M CORPORATION TO MINIMIZED THE TAX IMPLICATION ON THE PART OF BABY M? 5. EXPLAIN THE DIFFERENCE BETWEEN TAX EVASION AND TAX AVOIDANCE 1. BABY M CORPORATION DONATED SEVERAL PROPERTIES TO SANDRO ORGANIZATION IN 2019. SANDRO WOULD LIKE TO REGISTER THE SAID PROPERTIES UNDER THE NAME OF THE ORGANIZATION BUT THE BIR REFUSED TO ISSUE AN ELECTRONIC CERTIFICATE AUTHORIZING REGISTRATION TO SANDRO ORGANIZATION ON THE GROUND THAT DONOR'S TAX MUST BE PAID FIRST. DO YOU THINK THE BIR IS CORRECT? WHY OR WHY NOT? 2. WHAT ARE THE LIABILITIES OF BABY M CORPORATION IF ANY? WHAT ARE THE LIABILITIES OF SANDRO ORGANIZATION IF ANY? 3. WILL YOUR ANSWER BE THE SAME IF SANDRO ORGANIZATION IS A REGISTERED CHARITABLE INSTITUTION? 4. ASSUMING THAT INSTEAD OF DONATING TO SANDRO ORGANIZATION A DEED OF ABSOLUTE SALE WAS EXECUTED BETWEEN THE TWO WHAT WILL YOU ADVISE BABY M CORPORATION TO MINIMIZED THE TAX IMPLICATION ON THE PART OF BABY M? 5. EXPLAIN THE DIFFERENCE BETWEEN TAX EVASION AND TAX AVOIDANCE
Expert Answer:
Answer rating: 100% (QA)
1 The BIR is correct in requiring the payment of donors tax before issuing an electronic certificate ... View the full answer
Related Book For
Management A Practical Introduction
ISBN: 978-0078112713
5th edition
Authors: Angelo Kinicki, Brian Williams
Posted Date:
Students also viewed these law questions
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
Write a detailed executive summary about the appropriation and advancement of Information and Communication Technology (ICT)
-
WFU Corporation expects for the unit sales of Product MSA to increase by 10%, while Product MA will increase by 5% of last year's sales. The company will increase the price of Product MSA by $10,...
-
Water flows steadily from an open tank as in Fig. 14.43. The elevation of point 1 is 10.0 m, and the elevation of points 2 and 3 is 2.00 m. 1be cross-sectional area at point 2 is 0.0480 m2; at point...
-
Draw an energy diagram for the cart in Figure 9.2 \(b\). Figure 9.2 The work done on a system is positive if the system gains kinetic energy and negative if the system loses kinetic energy. (a) Cart...
-
Samson Corporation issued a 4-year, $75,000, zero-interest-bearing note to Brown Company on January 1, 2011, and received cash of $47,664. The implicit interest rate is 12%. Prepare Samsons journal...
-
1. Where cursor implementation can be used? 2. List down the applications of List. 3. What are the advantages of linked list? 4. Mention the demerits of linked list? 5. What are the operations...
-
The figure below shows a rod of length 10 m positioned at steady state between two walls of constant temperatures To = 40C and Ts = 200C. The finite-difference representation of the problem employs...
-
Chicago-based Groupon was launched in 2008 by Andrew Mason with the idea to email subscribers daily deals of heavily discounted coupons for local restaurants, theatres, spas, etc. Via the emails or...
-
True Or False Under a coordination-of-benefits provision, an insurer is responsible for its pro rata share of the damages as long as the insured was driving her own vehicle.
-
True Or False No-fault insurance was created on the premise that it would result in prompt payment to insureds for economic damages and to reduce automobile insurance premiums.
-
True Or False The insurer is held to a higher standard of care in third-party cases than in first-party cases.
-
Describe the arbitration process followed when resolving a typical dispute pertaining to insurance coverage.
-
True Or False Insureds have no obligation to cooperate with their insurer in the subrogation process.
-
After the Seattle 1999 World Trade Organization Ministerial Conference fiasco, in the next 2 years, large anti-globalization demonstrations rocked the International Monetary Fund and Work Bank in...
-
Explain the term global capital markets. This chapter primarily discusses global equity markets. What other types of financial instruments are traded in these markets? How important are global...
-
1. Does the decision-making process used to select the site for the luge track resemble more of a rational or non rational process? Explain. 2. Which of the seven evidence-based decision making...
-
How would you resolve this dilemma? I. In today's economy it is very important to contain or reduce the cost of health care. I would revise the Genetic Information Nondiscrimination Act so that...
-
What would you do if you were the principal of Westwood High? I. Allow the Native American students to wear the eagle feathers now and in the future. This shows an appreciation for diversity. 2. Do...
-
Summer and winter constellations are different because (a) of the spin of Earth about its polar axis. (b) the night sky faces in opposite directions in summer and winter. (c) of the tilt of Earths...
-
The longest-lived stars are those of (a) low mass. (b) high mass. (c) intermediate mass. (d) infinite mass.
-
What is the star nearest Earth? (a) Proxima Centauri (b) Polaris (c) Mercury (d) the Sun
Study smarter with the SolutionInn App