wer for each of the tt 2000, hen tem on the pa. ry one aS RES ALLOWED. is Hate Sei JMO tawer sheet INVALID. aa wl a if involuntar ast a reason of ry. enc 1-2 xs recened OY TT eyen if the official “ ct incor gs rendered less than Pema pisn ty) Yet tel oe Tn 9 OL yee pent 2: AY The ceplovel SE eyond the control oF some ze ee gran ts I Scrment oot inysical CANNY Ceaployes FN apt From income ration ae ents 2F0 cOHTe ae a Both sa rs arent COPTER Se ee ¢ Sreetastaare ‘ a valid deduction, i Se 3b exceCo charitable contribution, in ater ¢ ‘nceme of toxale nc * ent te er extabe contribution, inate eo ° © ae noUBSE jog chartble of contribution, « aorta ‘ casect mdi efore charitable contribution, in ‘of taxable income © Socal edok jarteble and other ITD eS 4 3. Which of the allowed to PWOs is incnracs 3 In case the saier prey PWD wal have the onion epee scout or the PID cecoons C1eMine statements resorting a 2 Only the PWO discount is exempted trom vat 3. None ofthe above, ~ “OMCs 2 non-vat registered realestate dealeriand lessor, it its monthiy rental of resident Wal UNS In 2017 taxable year exceeds P12,800 per unk, the same shall be subject te s3%% True, regardless of the amount of annuat grass recepts. = bs True, only ifthe total annual gross receipts hom te nels exceed P1,919,500, Truc, only if the total annual gross receipts from rentals ‘and other operstons exceed P1,919,500, 4. False, OMCTis 3 non-vat registered ently, Use the following deta fee. (3.questions: 20 Sugar Inc. is 8 vat-registered tracer of sugar. Tt hes the following data for the 1* quarter of the current taxable year Local Sales of refined sugar to private entities» 3,000,000, Local sales of refined sugar to Government Export sales of refined sugar Local sales of muscovado Purchases Purchases of sugarcane gy 97 FIM VAT eHCet “Hon og Purchases packaging mateflats from VAT suppliers Purchases of capital goods, useful Iife ts 6 years Tae? eran '500,000 31,500,000 aosete ro ef tve flowing ost cere corect POT ay vat Payable 5, oateene encatle@* —“Fo59,000 Foal 10.8 320,000 =. 10000 fers p300,000 wb. pyacey = oe) 350,000 G 750,000 ‘p40, 000 a on eos fr the CHEN torale Year ig ct your 000 ETE regen and canned Sh. Gross sy wt tm eacaie ord . 734,000 & fsao0 . pat 600. sich vtsep ii Eni cy cvcered the 10 vel apply to Te waved Be Percentage Perea ae or percentage {2x at the, optlon © pth anae e Son he weet internat Revenue (BIR) (ete ae Corporation (MSC) Proves 20% discount to. io hacen recorded the folowing during te Year: _Reguar _Ctizen __ Total neces }e,000,000 Pi,000,000" 8,000, Cost of series 50004 tier decile epenses 2/009) oT a AN Opa 7 ‘ses . The amount of gross rece 85 recep tobe reported Is 1,000,000 sated ». 1,250,000 16. P9,250,000, “The regular and special emized deductions deductibye trom 91085 income of MSC 2. 2,000,000 ib. 2,250,000 << 5,250,000 ‘4. P7,000,000~ 10. Manny Pacquao ought Floyd Mayweather Jr. io e302 City, “Philopnes for ene vacant Wort Boxing Counc WeReriht Tile, The showdown was Bed Lindol 50 Beek where Monn sent Fad to the canvass on the 12” sound, the fatter’ est dete ri entre career. The fight wes promoted BY TOP Rank Promotions, GO% ewned oy Bod Arum and other amercacs, wile the remaning 40% is owned by Mann” Pmequian, The event gererated the following s999er"a ‘Admission Fees 10,000,000 Pav versiew 100,000,000 How much percantage tax is cue on the above revenues? 3 PO © P10,000,000, : 1,000,000 44, 11,000,000, 11, Josort isa professional emertamer who frequents town estas ‘roughout the Phiippines 25 ts usual gig. His annual gross receipts for 2017 taxable year never exceeded 1,919,500, He ig table to pay the folowing taxes: Ao Income Tox : 2. 3% Other percentage Tax 3. 12% VAT 2 Lonly? © 1and3 b. 1and? 3. 1, 2and 3 aT apsere inst double snot a romedy 33 ses and obligations: avant foloning rd obi 1320 de wth rater een (25) 1,500,000 a esos wee 12g sce es iS eed enn ; Se enone pagar nous By a ae EAteny Gi Nether ort 15. whieh ofthe flowing transfer would fre the giver from paving git tax? 1, Transfer of property mtust, 1, Donaticn to 2 minor. 1, Donating house end lt ia the form of a wedding gift to an ‘adopted cid a. Tenly c. Alofthe above b. Cand tt only @. None of the above 7 7 a RR shots eine Sag at te aim the losses in computing income of the heirs obyected to the executor be Seducting the snid losses, the taxable income oy Ve” before already zero. However, the executor sto meena insisted on claiming the locses as dequenet uou8 nd income ta, Whe the flowing sateen ome PEE on mcw amore, Z estate tex since there is no profibites omens under the tax laws, rules and regulations, 2S Ht 9/7 ess cn SiS ated 2 7 Nc estate tax since thete was no tax Benefe organs losses cannot be dammed os dasnceoe ‘ccurred during the seitiement of the esate, 4 17. Ofiand, “warned resident citizsn, dled or 0 “Te esate repartee foloung uso ane Consuaal Peogecties: Fishpond, Bulacen Family Home, Makaty F1500.00 ‘Cash in bank. $00,000 Exc 08 ‘Land, irherted from hs father who ded on’ 700,000 Wiy 20, 2010. The valve of land at she time of inheritance mas 210,000. The and was mortgaged for 30,000 which was unpaid at the time of death of his father, P10,000 of which was pad by Orland before he died ‘manna copa Seleinettl