Answered: Explain the following: 1. Transactions…

Business

Accounting

Explain the following: 1. Transactions deemed sales 2. Goods or Properties 3. Tax Base

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter1: An Introduction To Taxation And Understanding The Federal Tax Law

Section: Chapter Questions

Problem 32DQ

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Question

Explain the following:

1. Transactions deemed sales

2. Goods or Properties

3. Tax Base

4. Gross Selling Price

5. Tax Rates in the Philippines

6. Export Sales

7. Other Zero-Rated Sales

8. Output Tax'

9. Input Tax

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