. Gomez maintains a law firm and registered as VAT taxpayer. For a particular client, the amount of professional fee imposed by Gomez is P300,000. Compute the business tax on this particular transaction. The taxable year is 2021. A. P3,000 percentage tax B. P9,000 percentage tax C. P36,000 output VAT D. zero
. Gomez maintains a law firm and registered as VAT taxpayer. For a particular client, the amount of professional fee imposed by Gomez is P300,000. Compute the business tax on this particular transaction. The taxable year is 2021. A. P3,000 percentage tax B. P9,000 percentage tax C. P36,000 output VAT D. zero
Chapter19: Corporations: Distributions Not In Complete Liquidation
Section: Chapter Questions
Problem 21CE
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1. Gomez maintains a law firm and registered as VAT taxpayer. For a particular client, the amount of professional fee imposed by Gomez is P300,000. Compute the business tax on this particular transaction. The taxable year is 2021.
A. P3,000 percentage tax
B. P9,000 percentage tax
C. P36,000 output VAT
D. zero
2. Ana invested P100,000 in domestic stocks. She sold them at a later date for P150,000 through the Philippine Stock Exchange. Ana is not a dealer of securities. Compute the business tax.
A. zero
B. P1,500
C. P900
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