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What is the deduction for family home

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1. During their marriage, Mr. and Mrs. Hakdog constructed a house using their salaries totaling P12,000,000. The lot was inherited by Mr. Hakdog when it was P8,000,000. Mr. Hakdog died when the house and the lot had fair values respectively of P15,000,000 and P12,000,000. What is the deduction for family home?

2. Elyu Ferry Boats transport passengers and cargoes between the islands of Immuki and Santiago. It earned a total of P120,000 in March 2021 excluding P10,000 freight for cargoes. What is the percentage tax if Elyu Ferry Boats registered respectively as a non-VAT taxpayer and as a VAT- taxpayer?

Reference no: EM132977934

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