WebOn July 1, 2024, a taxpayer obtained a P6,000,000 loan from a bank with annual interest rate of 12%. The proceeds of the loan amounted to P5,280,000 net of interest. Answer the questions under the following independent cases: 1. Assume the taxpayer is a resident citizen (under cash basis) and the loan including the interest is payable on June ... WebP560,000 d. P6,360,000 74. Using the assumption in the immediately preceding number, Cathrina’s taxable income in 2024 should be: a. P360,000 c. P760,000 b. P560,000 d. P6,360,000 Use the following data for the next five (5) questions): On July 1, 2016, Pedro leased his vacant lot for a period of 12 years to Juan at an annual rate of P2,400,000.
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WebP10.11 A taxpayer had the following data for 2024: Gross income from business P1,000,000 Capital gain Capital loss Operating expenses Donation to an accredited NGO Donation to … WebDec 11, 2024 · A Tax Reference Number will be sent, usually within 5 working days, and this number will subsequently identify the taxpayer for future procedures. In both cases, the … greenworks electric power washer 1700 psi
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WebWhich is correct? A. Without a business pursued in the Philippines (except importation) by the taxpayer, value added tax cannot be imposed. B. "In the course of trade or business" means the regular conduct or pursuit of a commercial or an economic activity, including transactions incidental thereto, by any person regardless of whether or not the person … WebJan 25, 2024 · Taxes. Corporate taxpayers can claim a deduction for all taxes paid or accrued within the taxable year in connection with their trade or business, except for the … WebINCOME TAXATION (Please show computations. Thank you.) 1. A resident citizen taxpayer sold a vacant lot (held as investment) in the Philippines. Other data regarding the sale are … greenworks electric power washer