What is the output tax, The lot itself is valued at P3,000,000 while the house is valued, History

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What is the output tax

Problem: Juan Tamad got bored of his life and decided to travel around the world. In order to finance his travel, he sold his house and lot for a total of P4,000,000. The lot itself is valued at P3,000,000 while the house is valued at P1,500,000 What is the output tax?

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