C.

Capital Gains Tax

(1) Required: compute the capital gain tax.

Fair Market Value ₱ 6,000,000.00

Less: Expense on Sale (275,000)
Total ₱ 5,725,000.00
Multiply by 6%
Capital Gain on Tax ₱ 343,500.00

(2) Required: compute the capital gain tax.

Selling Price ₱ 310,000.00

Less: Expenses on Sale (10,000)
Cost of share sold (200,000)
100,000
Multiply by 15%
Capital Gain Stocks ₱ 15,000.00
D. Quarterly Income Tax Return

1st Qrt 2nd Qrt 3rd Qrt

Gross Profit from Sales ₱ 300,000.00 ₱ 650,000.00 ₱ 910,000.00
Less: Bus. Expense (120,000) (262,000) (405,890)
Taxable Income 180,000 388,000 504,110
Taxable Due
Less: Tax Paid 17,600 56,027.5
Q1 (17,600)
Q2
Q3
Income Tax Payable ₱ - ₱ 17,600.00 ₱ 38,427.50

Rate Amount Total

Dividend - Domestic Corp. 10% ₱ 30,000.00 3,000
Interest Income from:
BPI 20% 16,000 3,200
UCPB 20% 18,000 3,600
Metro Bank 20% 30,000 6,000
Total Final Tax (for the year) on passive income ₱ 15,800.00

Q1 CG on sales of Land
Q2 CG on sales of Land 150,000
Q3 CG on sales of Land 150,000
Q4 CG on sales of Land 150,000
TOTAL Capital Gain on Sale 450,000
Multiply by 6%
Capital Gain Tax ₱ 27,000.00
 4th Qrt
₱ 1,200,000.00
(426,000)
774,000

123,325

(17,600)
(38,427.5)
₱ 67,297.50