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Donor Tax

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Madz went to Bersabren Resort and was given a prize of P50,000 by the resort for being its 1,000th guest. Is the prize subject to donor's tax? Income Tax?

Donors Tax Income tax

Yes YesNo YesYes NoNo No

Correct - Your answer is correct.

Wrong - Your answer is wrong.

Detailed Answer

Correct answer: (B)
The prize given is for business motive and not for donation purposes. Therefore it is not based on the liberality of the donor.

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