A sale of principal residence to purchase a new principal residence shall be exempt from tax of done:
A sale of principal residence to purchase a new principal residence shall be exempt from tax of done:
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 47P: How do the all events and economic performance requirements apply to the following transactions by...
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A sale of principal residence to purchase a new principal residence shall be exempt from tax of done:
Once every 10 years and reported to BIR within 1 month from sale.
Once every ten years and reported to BIR within 18 months from sale.
Once every 10 years and reported to BIR within 2 months from sale.
Once every 18 years and reported to BIR within 10 months from sale.
Substituted filing of income tax returns is a manifestation of which principle of a sound tax system?
Theoretical justice
Fiscal adequacy
administrative feasibility
Equality
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