Question: Mr. John bought a motor van in 2019 for $4,000,000. The car is now being sold for $3,000,000. Compute Taxes payable to the Guyana Revenue

Mr. John bought a motor van in 2019 for $4,000,000. The car is now being sold for $3,000,000. Compute Taxes payable to the Guyana Revenue Authority (licence department) on transfer of ownership. Miss Sita Lall is now selling her car which she bought in 2013 for $1,500,000 to Michael Duke. The purchase price of the car was 2,050,000. Compute Taxes payable to the Guyana Revenue Authority (licence department) on transfer of ownership

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