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What the income tax liability of the trust

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Question - Grandma Orange is designated in irrevocable trust a property in favour of her grand daughter and appointed her lawyer as trustee. The property earned a regular monthly revenue of P55,000 and a monthly maintenance expense of P10,000 plus annual trust fee of P80,000.00. P15,000 monthly is given to her grand daughter as income distribution.

Required - What the income tax liability of the trust?

Reference no: EM132912908

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