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6 raymund exchanged his a company shares pursuant to

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6. Raymund exchanged his A Company shares pursuant to a plan ofconsolidation where A Company will be integrated with B Company.The following relates to the exchange.Basis of A Company shares given P1,200,000Downloaded by Lemhar Dayaoen ([email protected])lOMoARcPSD|9787481
Fair value of A Company shares given 1,300,000Fair value of B Company shares received 1,100,000Fair value of other properties received 250,000Compute the capital gains tax.lOMoARcPSD|9787481
7. What is the tax basis of the B Company received by Raymund?
8. What is the basis of the “boot” or the other properties received byRaymund?
9. What is the basis of the A Company shares received by B Company?a. P0 c. P1,200,000b. P1,100,000d. P1,350,000
10. Mrs. Joson sold a residential lot in June 1,2019 for P2,000,000.The property had a zonal value of P2,500,000 and a Assessor’smarket value of P1,000,000.On July 1, 2020, Mrs. Joson was compelled to pay the capital gainsupon the request of the buyer. The compromise penalty wasdetermined to be P20,000.Compute the total tax due.
11. Basic Company paid P9,000 documentary stamp tax on the sale of areal property capital asset. Compute the capital gains tax on thesale.
12. Mr. Bassit Unay sold a residential land P4,000,000. The land hada fair value of P3,500,000 and an Assessor’s fair value ofP2,000,000. What is the total income tax and documentary stamp taxdue?
Downloaded by Lemhar Dayaoen ([email protected])
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