Andres, VAT-registered real estate dealer, transferred a parcel of land held for sale to Camella Realty Corporation sold the following real properties during 2021 the taxable year 3 units of residential house and lot at P2,500,000 each P7,500,000 8 residential lots at P1,000,000 each 8,000,000 1 commercial lot at P3,000,000 3,000,000 How much is the total transactions subject to
Andres, VAT-registered real estate dealer, transferred a parcel of land held for sale to Camella Realty Corporation sold the following real properties during 2021 the taxable year 3 units of residential house and lot at P2,500,000 each P7,500,000 8 residential lots at P1,000,000 each 8,000,000 1 commercial lot at P3,000,000 3,000,000 How much is the total transactions subject to
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter7: Property Transactions: Basis, Gain And Loss, And Nontaxable Exchanges
Section: Chapter Questions
Problem 8BCRQ
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Mr. Andres, VAT-registered real estate dealer, transferred a parcel of land held for sale to
Camella Realty Corporation sold the following real properties during 2021 the taxable year
3 units of residential house and lot at P2,500,000 each P7,500,000
8 residential lots at P1,000,000 each 8,000,000
1 commercial lot at P3,000,000 3,000,000
How much is the total transactions subject to VAT?
a. P6,000,000 c. P11,000,000
b. P8,000,000 d. P18,500,000
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