Sale of real estate is subject to VAT. True, if not made in the regular course of trade or business False, it is exempt if the real estate is classified as capital asset False, it is exempt if what is sold is a resi¬dential unit True, if the real estate is classified as capital asset
Sale of real estate is subject to VAT. True, if not made in the regular course of trade or business False, it is exempt if the real estate is classified as capital asset False, it is exempt if what is sold is a resi¬dential unit True, if the real estate is classified as capital asset
Chapter19: Corporations: Distributions Not In Complete Liquidation
Section: Chapter Questions
Problem 9DQ
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Sale of real estate is subject to VAT.
True, if not made in the regular course of trade or business
False, it is exempt if the real estate is classified as capital asset
False, it is exempt if what is sold is a resi¬dential unit
True, if the real estate is classified as capital asset
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