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What is the vat due on the transaction

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Reference no: EM132799976

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Q1. Miss Vicky Belo, a known dermatologist conducted an internal abs enhancement procedure to a well-known and handsome practicing accountant, Jeffrey Ancheta. The two contracted for P2,000,00 payment before taxes. What is the VAT due on the transaction?

Q2. Mr Cruz died in an accident on August 20, 2020. Sa kamalasan nga naman, Mrs Cruz also died a few hours after his death due to heart attack upon learning of her hubby's death. Mr and Mrs Cruz were survived by their only son, a sole heir to their properties Mr and Mrs Cruz properties at the time of their death are:

Separate properties of Mr. Cruz P3,000,000

Separate properties of Mrs. Cruz 5,000,000

Q3. Mr. Ruiz, a resident citizen died leaving the following property at the point of his death:

House and Lot - Fair Value (P4,000,000); Acquisition cost (P2,000,000)

Car - Fair value (P800,000); Acquisition cost (P1,200,000)

Agricultural land - Fair value (P2,100,000); Acquisition cost (P500,000)

How much should be computed for donation mortis causa?

Q4. Miss Vicky Belo, a known dermatologist conducted an internal abs enhancement procedure to a well-known and handsome practicing accountant, Jeffrey Ancheta. The two contracted for P2,000,00 payment before taxes.

What amount of withholding tax shall Jefrey Ancheta deduct on the professional fees?

Q5. Mr Mayaman brought into the marriage an agricultural land worth P1,000,000. During the marriage, the agricultural land was sold for P1,500,000 and was used to acquire a family home. The family home was valued at P1,800,000 at the death of Mr. Mayaman.

How much is the amount to be included in the common properties of the spouses assuming that Mr Mayaman got married on Sept 30, 1984?

Q6. Mr. Santos has a land which he purchased in 2011 for P500,000. At that time the land was worth P450,000. He transferred the property when it was worth P1,000,000, after which Mr Santos died when the property was worth P1,200,000.

Let's assume that the donation is a donation inter-vivos what is the value to be subjected to donor's tax.

Q7. Miss Vicky Belo, a known dermatologist conducted an internal abs enhancement procedure to a well-known and handsome practicing accountant, Jeffrey Ancheta. The two contracted for P2,000,00 payment before taxes. What is the excise tax?

Reference no: EM132799976

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