Mr. Nicanor was single at the time of death. Data were as follows: Country A: Net estate of P 100,000 and estate tax paid od P 8,000; Country B: Net estate of P 200,000 and estate tax paid of P 12,000; Philippines: Net estate of P 1,200,000. The decedent was a resident and citizen of the Philippines. The Estate tax credit for foreign estate taxes paid is?
Mr. Nicanor was single at the time of death. Data were as follows: Country A: Net estate of P 100,000 and estate tax paid od P 8,000; Country B: Net estate of P 200,000 and estate tax paid of P 12,000; Philippines: Net estate of P 1,200,000. The decedent was a resident and citizen of the Philippines. The Estate tax credit for foreign estate taxes paid is?
Chapter5: Gross Income: Exclusions
Section: Chapter Questions
Problem 6BCRQ
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Mr. Nicanor was single at the time of death. Data were as follows: Country A: Net estate of P 100,000 and estate tax paid od P 8,000; Country B: Net estate of P 200,000 and estate tax paid of P 12,000; Philippines: Net estate of P 1,200,000. The decedent was a resident and citizen of the Philippines. The Estate tax credit for foreign estate taxes paid is?
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