Activity in Documentary Stamp Tax activity PDF

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Which of the following bills of exchange is not subject to documentary stamp tax? a. Drawn and payable in the Philippines b. Drawn abroad but payable in the Philippines c. Drawn in the Philippines but payable abroad. d. Drawn and payable abroad D Which is not subject to DST on bills of lading? a. Sh...

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1. Which of the following bills of exchange is not subject to documentary stamp tax? a. Drawn and payable in the Philippines b. Drawn abroad but payable in the Philippines c. Drawn in the Philippines but payable abroad. d. Drawn and payable abroad D 2. Which is not subject to DST on bills of lading? a. Shipment of goods bound for abroad b. Shipment of goods between places in the Philippines c. Import shipment of goods from abroad d. None of these C 3. Which does not belong to the group for purposes of documentary stamp tax? a. Mortgages b. Pledges c. Deed of trusts d. Loans D 4. Statement I: Stocks issued by foreign corporations in foreign countries are subject to Philippine documentary stamp tax Statement II: Stocks issued by a domestic corporation in foreign countries are subject to Philippine documentary stamp tax a. Both Statements are true b. Statement I is true c. Statement II is true d. Both Statements are false C 5. Which is not subject to documentary stamp tax? a. Issue of a domestic stocks b. Assignment of a domestic stocks c. Issue of a foreign stocks d. Assignment of a foreign stocks C 6. Documentary stamp taxes are a. Ad valorem taxes b. Specific taxes c. Both ad valorem and specific taxes d. Either ad valorem or fixed tax D 7-9. Teddy sold a piece of lot with zonal value of P4,000,000 to a buyer for P4,500,000. What is the documentary tax? a. P270,000

b. P67,500 c. P63,750 d. P60,000 B (P4,500,000 x P15/P1000) = 67,500 10-12. Using the information in preceding problem, compute the documentary stamp tax assuming property is sold to the government. a. P270,000 b. P67,500 c. P63,750 d. P60,000 B 13-15. Casablanca Corporation issued shares 1,000,000 P10-par value shares to various shareholders for a total consideration of P12,000,000. One of the shareholders is Japeth who subscribed for 120,000 shares. Japeth sold the shares for P140,000. Compute the documentary stamp tax on the issue of stocks. a. P120,000 b. P100,000 c. P90,000 d. P75,000 B (1,000,000 x P10 x P2/P200) = 100,000...