Assuming X and Y Corporation entered into a merger resulting to Y corporation being dissolved. X had inventories of goods amounting to P1,000,000.00 and Y had P600,000.00. Assume that there is available input tax unused by X and Y. Requirement: How will the inventories be treated in relation to business taxation?

Assuming X and Y Corporation entered into a merger resulting to Y corporation being dissolved. X had inventories of goods amounting to P1,000,000.00 and Y had P600,000.00. Assume that there is available input tax unused by X and Y. Requirement: How will the inventories be treated in relation to business taxation?

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter16: Multistate Corporate Taxation

Section: Chapter Questions

Problem 31P

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