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Second Statement: For The Purpose of Donor's Tax, A Stranger Is A Person Who Is Not A

1. For a donation to be valid, acceptance must be made during the lifetime of both the donor and donee. 2. A donor's tax shall be levied on gifts or donations as assessed by the BIR. For donor's tax, a stranger is defined as someone not related to the donor within the fifth degree of consanguinity. 3. An adopted child would not entitle the donor parent to a P10,000 dowry exemption like a legitimate, natural, or stepchild donee would.

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170 views2 pages

Second Statement: For The Purpose of Donor's Tax, A Stranger Is A Person Who Is Not A

1. For a donation to be valid, acceptance must be made during the lifetime of both the donor and donee. 2. A donor's tax shall be levied on gifts or donations as assessed by the BIR. For donor's tax, a stranger is defined as someone not related to the donor within the fifth degree of consanguinity. 3. An adopted child would not entitle the donor parent to a P10,000 dowry exemption like a legitimate, natural, or stepchild donee would.

Uploaded by

Allen Kate
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© © All Rights Reserved
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1. For the donation to be considered valid, acceptance of the donation must be made.

a. during the lifetime of the donor only.


b. during the lifetime of the donee only
c. during the lifetime of the donor and the donee
d. none of the choices

2. First statement: Donors tax shall be levied, assessed collected and paid upon the transfer
of property by any person , resident or non-resident as a gift.
Second statement: For the purpose of donor’s tax, a stranger is a person who is not a
relative by consanguinity in the collateral line within the fifth degree of relationship.

a. True, True
b. False, False
c. True, False
d. False True

3. One of the following donees will not entitle the donor-parent to a P10,000 dowry
exemption.

a. Legitimate Child
b. Recognize Natural Child
c. Adopted Child
d. Stepchild

4. Which of the following statement is incorrect?

a. A separate return shall be filed by each donor for each gift or donation made on
different dates during the year reflecting therein any previous net gift made in the
same calendar year.

b. Only one return shall be filed for several gift or donations by a donor to the different
donees on the same date.

c. When a donors tax return was filed and it was found out by the BIR to have errors
which gave rise to a deficiency donors tax, the donor cannot be required to pay the
deficiency.

d. The government is not legally bound by the agreement between the donor and the
donee that the later shall pay the donors tax instead of the former.

5. First statement: In all cases, void donations are not subject to donors tax.
Second statement: Every donation between the spouses during the marriage shall
be void.

a. both statements are true


b. both statements are false
c. First statement is true while second statement is false
d. First statement is false while the second statement is true

6. Mr. John Samuelson, resident alien, donated a piece of jewelry to his son who got
married on January 15, 2009. The piece of jewelry was mailed to his son on January 10,
2009 and was accepted on January 20, 2009. When is the last day to file the donors tax
return?

a. February 9, 2009
b. February 14, 2009
c. February 19, 2009
d. March 20, 2009

7. When a property is donated in contemplation of death the basis of the tax shall be:

a. Fair market value at the time of death


b. Fair market value in the hands of the donor before the time of donation
c. Fair market value at the time of death of the donor
d. Cost when the property was acquired

8. Which of the following is a stranger for donor’s tax purposed?

a. A child born out of wedlock of parents who are legally impeded to marry each
other at the time the child is being conceived.
b. The son of the donor’s first cousin
c. The donor’s grandmother
d. The donor’s spous

9. When the donee is a stranger the tax payable is:

a. 30% of the gross gifts


b. 30% of the net gifts
c. based on the graduated tax rates
d. based on the graduated tax rates or 30% of gross gifts whichever is higher

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