Mr. Omagana, a resident Japanese, owned 2,000 common shares of San Miguel Corporation with book value of P1,000,000. He sold half to Mr. Hapona, a direct buyer, for P1,000,000. The other half through the Philippine Stock Exchange for P950,000, inclusive of the broker’s fee of P50,000. How much is the final income tax?

Mr. Omagana, a resident Japanese, owned 2,000 common shares of San Miguel Corporation with book value of P1,000,000. He sold half to Mr. Hapona, a direct buyer, for P1,000,000. The other half through the Philippine Stock Exchange for P950,000, inclusive of the broker’s fee of P50,000. How much is the final income tax?

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter12: Tax Credits And Payments

Section: Chapter Questions

Problem 28P

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