in the philippinesm The official residence of the resident citizen was sold for P10,000,000 when its zonal value was P8,000,000. The cost of the property sold was P5,000,000 If eventually, P9,000,000 of the proceeds from sale was used to acquire new family residence within the 18 month period, how much could be authorized by the BIR to be released from escrow deposit in favor of the seller? a.750,000 b.675,000 c.540,000 d.60,000

Answer rating: 100% (QA)

To determine how much could be authorized by the BIR Bureau of Internal Revenue to be released from ... View the full answer