In 2020 a vat registered real estate dealer sold a residential lot for P1,919,500 to a vendee who intends to erect his residential house thereon. The sale shall be: a. Subject to 12% vat b. Subject to 0% vat c. Vat exempt d. None of the foregoing

In 2020 a vat registered real estate dealer sold a residential lot for P1,919,500 to a vendee who intends to erect his residential house thereon. The sale shall be: a. Subject to 12% vat b. Subject to 0% vat c. Vat exempt d. None of the foregoing

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter18: Accounting Periods And Methods

Section: Chapter Questions

Problem 18DQ: LO.4, 7 In December 2019, Carl Corporation sold land it held as an investment. The corporation...

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Question

In 2020 a vat registered real estate dealer sold a residential lot for P1,919,500 to a vendee who intends
to erect his residential house thereon. The sale shall be:
a. Subject to 12% vat
b. Subject to 0% vat
c. Vat exempt
d. None of the foregoing

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