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Integrative Course For Taxation Ateneo de Zamboanga University Accountancy Department Donor's Tax

The document contains 6 problems related to computing donor's tax in the Philippines. Problem 1 asks to compute the gross gift and donor's tax for different types of donations made by Mica. Problem 2 asks to compute the gross gift for each spouse based on donations of community and separate properties. Problem 3 asks to compute the donor's tax for donations made on different dates by a married couple. Problem 4 asks to compute the tax due for a donation made on a specific date. Problems 5 and 6 provide additional donation scenarios and ask to compute the donor's tax due after credit.

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Elizabeth Apolonio
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182 views2 pages

Integrative Course For Taxation Ateneo de Zamboanga University Accountancy Department Donor's Tax

The document contains 6 problems related to computing donor's tax in the Philippines. Problem 1 asks to compute the gross gift and donor's tax for different types of donations made by Mica. Problem 2 asks to compute the gross gift for each spouse based on donations of community and separate properties. Problem 3 asks to compute the donor's tax for donations made on different dates by a married couple. Problem 4 asks to compute the tax due for a donation made on a specific date. Problems 5 and 6 provide additional donation scenarios and ask to compute the donor's tax due after credit.

Uploaded by

Elizabeth Apolonio
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Integrative Course for Taxation

Ateneo de Zamboanga University


Accountancy Department

Donor’s tax

Problem 1
Mica donated the following properties:

House and lot in New York, USA 1,000,000


Land in Pasig City, Philippines 450,000
Car in New York City 600,000
Jewelry in the Philippines 400,000
Shares of stock with Maritatas Corporation, domestic 60,000
Shares of stock in Mary Tates Corporation, foreign, 40% of the business is in 50,000
the Philippines
Shares of stock in Mortago Corporation, foreign corporation, 90% of the 120,000
business is in the Philippines
Shares of stock in Goto More Corporation, foreign corporation, operating in 550,000
and with office in Makati City

Compute the gross gift if Mica is a:


1. Resident citizen/resident alien/ non-resident citizen
2. Non-resident alien (without reciprocity)
3. Non-resident alien (with reciprocity)

Problem 2
Mr. and Mrs. Alano donated the following properties to their son, Wesley:

Land in Baguio City (community property) 250,000


Personal car (capital property) 120,000
Jewelry (paraphernal property) 80,000

Compute the gross gift of each spouse.

Problem 3
Malakas and Maganda, husband and wife, made the following donations:

May 3 To Matapat, brother of Malakas, P250,000.


July 7 To Mayumi, mother of Maganda, P200,000.
September 8 To Mahinhin, legitimate daughter, on account of marriage, P175,000.
December 20 To Mayabang, a family friend, on account of marriage on December 30,
P35,000.
To Matalino, illegitimate son of Malakas, exclusive (capital) property worth
P50,0000.

Compute the donor’s taxes payable by the spouses on each donation under the TRAIN Law.

Problem 4
Donations were made on January 30, 2018 at P2,000,000; on March 30, 2018 at P1,000,000;
and on August 15, 2018 at P500,000.

Compute the tax due on August 15 donation.


Problem 5
Manny made the following donations:
 Car worth P1,500,000 to his friend, Ara. The car is registered in Las Vegas, Nevada, USA.
A donor’s tax worth P60,000 was paid in USA.
 Cash worth P500,000 to his brother, Yuno, on account of marriage.

Required: Compute the donor’s tax due after credit under the TRAIN Law.

Problem 6
Alalay made the following donations during the year:
• March 5
– To Bagalay, legitimate child on account of marriage, bank deposit with Banco de
Oro worth P610,000.
– To Calalay, legally adopted son, car in Canada worth P400,000. Donor’s tax paid
in Canada worth P18,000.
• August 3, to Dalalay, nephew in Manila, property worth P150,000.
Required: Compute the donor’s tax due after credit under the TRAIN Law.

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