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Dr. Taimtim donated P50,000 to the chapel at his alma mater, Universal University. He wants to claim this donation as a tax deduction from his gross income. Mr. Gipit borrowed P100,000 from Mr. Maunawain and had the debt cancelled after providing cleaning services worth P75,000. Mr. Gipit claims the debt cancellation is not taxable income. Haeltown Corporation is accused of engaging in a simulated property sale to avoid higher corporate income taxes.

Author

Sheena Palmares

Language

EN