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1. Three of the following are exempt or excluded from the donors tax. Which is the
exception?
a. P 200,000 cash given by a non-resident alien donor to his legitimate son who is
getting married in the Philippines to a Filipina.
b. P 10,000 cash given by a resident alien donor to his legitimate son who is getting
married in the Philippines.
c. Donation of a condominium in Hongkong to a Filipina by a British national not
residing in the Philippines.
d. P 150,000 donation to a non-profit school.
3. All of the following except one are exempt from the gift tax under the special laws:
a. Donation to Integrated Bar of the Philippines
b. Donation to Development Academy of the Philippines
c. Donation to Philippine Institute of Certified Public Accountants
d. Donation to International Rice Research Institute
4. John sold his residential land to Sam. Johns land had a cost P 300,000 and has a fair
market value of P 400,000 at the same time of sale. The land was sold for P 200,000
. For donors tax purposes, which of the following statements is correct assuming the
property sold above was a car:
a. There is taxable gift of P 300,000.
b. There is a taxable gift of P 200,000.
c. The transfer is for insufficient consideration, hence, not subject to gift tax.
d. The transfer is subject to capital gains tax.
6. 1st statement: A donation can be both a part of the gross gift of the donor and a
taxable income to the donee.
2nd statement: A donation may be exempt from donors tax but not necessarily a
deduction from the donors gross income.
8. 1st statement: As a general rule all persons who may contract and dispose of
their property may donate.
2nd statement: Minors can be a donor or a donee
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9. 1st statement: A person can donate all his present property unconditionally.
2nd statement: No person may receive or give by way of donation more than he
may give or receive.
10. 1st statement: The pay as you file system is not followed in donors taxation.
2nd statement: All onerous donations are not subjected to donors tax.
11. 1st statement: Renunciation of ones share in the legitime is a taxable gift.
2nd statement: Gift splitting is a form of tax evasion.
12. 1st statement: Donation of a personal property worth P 5,000 must be in writing.
2nd statement: Donation of a real property is valid if made in writing even if not
notarised.
14. If she is a NRA non-resident Egyptian, and there is reciprocity law, her gross gift is:
a. P 850,000 c. P 650,000
b. P 1,050,000 d. P 900,000
5/31/CY To Napoleon, brother of Mr. Lapu-Lapu, his capital property worth P 400,000
on account of marriage 6 months ago of Napoleon with a condition that
the donee will pay the donors tax thereon.
8/20/CY To Donita a conjugal car of the couple worth P 400,000, with P 200,000 unpaid
mortgage, ½ assumed by Donita. And P 500,000 worth of land to their
four sons on account of their graduation, 20% of which was owned by
their kumpare who agreed to donate his share thru a public document.
15. The gift tax due of Mr. Lapu-Lapu as of May 31, CY is:
a. P 8,000 c. P 7,000
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b. P 7,200 d. P 15,000
17. The gift taxes due of Mr. and Mrs. Lapu-Lapu on August 20, 2006:
a. P 69,000 & P 18,800
b. P 17,000 & P 18,800
c. P 54,000 & P 15,800
d. P 21,000 & P 21,000
April 15 To Natalie, with P10,000 unpaid mortgage assumed by the donee, car worth P
710,000 in Philippines.
To Daylan, his daughter, car in USA worth P 300,000. They paid $ 200 donors
tax in the US ($1 P 45)
July 20 To Tiffany niece in Manila, P 200,000 worth of personal property.
To Nora, legitimate daughter on acct. of marriage in Cebu, July 18, CY car,
worth P 400,000 but mortgaged for P 200,000, ½ of which was assumed by
the donee.
19. The gift tax due after credit on April 15, CY is:
a. P 30,800 c. P 51,000
b. P 44,000 d. P 36,000
21. Mr. Romano donated a total amount P 500,000, ½ to the Quezon City Hall and ½ to
a charitable institution TAHANAN NI GLORIA. Upon inquiry, it was verified that the
charitable institutions total receipts from donation amounted to P 10M and its total
administrative expenses reached P 4M. Mr. Romano can claim a total deduction /
exemption of:
a. P 250,000 c. P 500,000
b. P 200,000 d. P None
22. During the current year, Mr. and Mrs. Reyes, non-resident citizens, donated the
following:
Sept. 25: To Bea a legitimate child, on account of marriage, last month a conjugal
property located in the Philippines, FMV, P 400,000.
23. Using the data in no. 22, the gift tax payable on the October 9 gift of the husband is :
a. P 9,600.00 c. P 5,907.00
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b. P 1,660.63 d. P 2,196.00
24. Using the data in no. 22. The gift tax payable of the wife is:
a. P 1,800.00 c. P 3,600.00
b. P 13,200.00 d. P 0
25. On July 18, CY, Mr. Jecky gave a property with a fair market value of P 550,000 to
Mikey, a legitimate son, and Rose, Mikeys bride, on account of their marriage
celebrated on January 3, CY. The donors tax payable is:
a. P 87,100 c. P 33,000
b. P 84,100 d. P 18,000
29. J. C. gave a property with a fair market value of P500,000, with unpaid mortgage of
P20,000 still assumed by the donor, to Jay his son, and Jays bride Tina, on account
of her marriage 13 months ago, provided, P100,000 of which will be given by the
couple to the creditor of J.C.
30. The donors tax due based on the above problem is:
a. P32,000 c. P15,000
b. P30,000 d. P 9,000
31. John sold his residential land in Manila to Sam. Its cost is P500,000 and has a fair
market value of P400,000 at the same time of sale. It was sold for P200,000. For
donors tax purposes, which of the following statements is correct?
a. There is taxable gift of P300,000
b. There is taxable gift of P200,000
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c. The transfer is for insufficient consideration, hence, not subject to gift tax.
d. The transfer is subject to capital gains tax
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