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1. Gain on sale of shares of domestic corporation directly sold to a buyer is subject to what kind of tax? * a. Basic Income Tax (BIT) b. Capital Gains Tax (CGT) c. 8% Preferential Tax d. Real Property Tax (Local Tax) e. None of the abovementioned choices

1. Gain on sale of shares of domestic corporation directly sold to a buyer is subject to what kind of tax? * a. Basic Income Tax (BIT) b. Capital Gains Tax (CGT) c. 8% Preferential Tax d. Real Property Tax (Local Tax) e. None of the abovementioned choices

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. Gain on sale of shares of domestic corporation directly sold to a buyer is subject to what kind of tax? *
a. Basic Income Tax (BIT)
b. Capital Gains Tax (CGT)
c. 8% Preferential Tax
d. Real Property Tax (Local Tax)
e. None of the abovementioned choices
 
2. Gain on sale of an unlisted shares from a non-listed Domestic Corporation is subject to what kind of tax?
a. Basic Income Tax (BIT)
b. Capital Gains Tax (CGT)
c. 8% Preferential Tax
d. Real Property Tax (Local Tax)
e. None of the abovementioned choices
 
3. Gain on sale of shares of a closely-held corporation is subject to what kind of tax?
a. Basic Income Tax (BIT)
b. Capital Gains Tax (CGT)
c. 8% Preferential Tax
d. Real Property Tax (Local Tax)
e. None of the abovementioned choices
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