In September 2019, the Rotaract Club of UST AMV COA conducted a raffle draw to raise funds for its community services. A UST accounting student from Bataan, Philippines, won a MAC Air laptop valued at P50,000. Assuming that this is the only transaction of the student for the year, it will be subject to the tax rate of________?

Answer rating: 100% (QA)

The student will not be subject to any tax on the prize won in ... View the full answer