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Sales P6,000, Cost of sales 2,000, Business expense 1,000, Interest on Philippine currency bank deposit 50,0 00 Capital gain on sale directly to buyer of shares of domestic corporation 120, Dividend income from domestic corporation 60, Dividend declared and paid during the year 500,00 0. The improperly accumulated earnings tax is: a. P175,300 ...
· Philippines Motorcycles Market keeps struggling in the 2021. In September the market lost another 17% vs the previous year and the Year to date September figures were, up % vs 2020, but down % vs the 2019. Motorcycles Market Crisis is not over. Following the deep lost reported in the 2020, breaking a spectacular yearly boom, in the 2021 the domestic motorcycles .
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· Philippine developers are happy as prices of some units of their condominiums have dropped due to the increased exemption for the Value Added Tax (VAT) here. It used to be that a P2,500, condominium unit with 12% VAT (or P300,000) will sell for P2,800, Now a 2,500, will remain as P2,500,
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VAT stands for Value Added Tax. VAT is a type of sales tax which is levied on consumption on the sale of goods, services or properties, as well as importation, in the Philippines. To simplify, it means that a certain tax rate (0% to 12%) is added up to the selling price of a goods or services sold. It is also imposed on imported goods from abroad.
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