GACHE, ROSETTE L.

III-BSA-1 BUSINESS TAXATION

MODULE 3
Activities/Assessments
P 2.1
1. RESIDENT CITIZEN: P 8,000,000
5,000,000
3,000,000
2,000,000
500,000
300,000
200,000
300,000
P 19,300,000

2. RESIDENT ALIEN: P 8,000,000

5,000,000
3,000,000
2,000,000
500,000
300,000
200,000
300,000
P 19,300,000

3. NON-RESIDENT ALIEN W/ RECIPROCITY:

P 8,000,000
3,000,000
300,000
200,000
300,000
P 11,800,000

4. NON-RESIDENT ALIEN W/OUT RECIPROCITY:

P 8,000,000
 3,000,000
2,000,000
500,000
300,000
200,000
300,000
P 14,300,000

P 2.2

 TO JUAN: P 25,000,000 (25M vs 18M)

 TO PEDRO: 18,000,000 (15M vs 18M)
 TO MARIA: 15,000,000 (Zonal Value)
 TO SISA: 20,000,000 (FMV from Independent Assessors)
P 78,000,000 GROSS ESTATE

P 2.3
P 8,000,000+3,000,000
 = P 13.75/share x 100,000 shs = P 1,375,000
800,000
 100,000 shs x P 15 = P 1,500,000
 100,000 shs x P 12 = P 1,200,000
P 4,075,000 GROSS ESTATE

P 2.4
1. P 230,000
2. P 1,100,000 (P 1,200,000 – 100,000)
3. P0 (P 1,200,000 – 1,200,000)
4. P 5,000,000
5. P 1,150,000 (Interest: P 1M x 10% = P 100,000; P 1M x 10% x 6/12 = P 50,000
So, P 1,000,000 + 100,000 + 50,000)
MODIFIED IDENTIFICATION
EXERCISE A

EXERCISE B
1. P0
2. P0
3. P0
4. P 4,000,000
5. P 6,000,000
EXERCISE C
1. P 10,000,000
2. P 20,000,000
3. P 5,000,000
4. P 10,000,000
5. P0

TRUE OR FALSE
1. True
2. True
3. True
4. False
5. False
6. False
7. False
8. False
9. True
10. True
11. False
12. True
13. True
14. False
15. False
16. True
17. True
18. False
19. True
20. False