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Lorna invested P1,000,000 in a 5-year tax-free time deposit with BDO that paid 10% annual interest. She terminated the investment early on July 1, 2017, and owed P42,000 in final tax. When heirs inherit an undivided property, they become co-owners. Interest income from loans within the Philippines is subject to basic income tax. Pedro, Juan and Antonio each inherited 1/3 of Luna

Author

Roronoa Zoro

Language

EN