Tentative Answers for Assignment No 2.
1. No. 1. Non resident alien donor who donated shares of stocks of a Foreign Corp, to a qualified done,
is subject to donor’s tax when there is no reciprocity.
No. 2. Non residen
...
Tentative Answers for Assignment No 2.
1. No. 1. Non resident alien donor who donated shares of stocks of a Foreign Corp, to a qualified done,
is subject to donor’s tax when there is no reciprocity.
No. 2. Non resident alien donor who donated shares of stocks of a Foreign Corp, to a qualified done, is
subject to donor’s tax regardless of reciprocity.
• True True
• False False
• True False
• False True
2.No.1 H and W donated a conjugal property to X worth 1M. H must declare a gross gift of 500,000 only
because ½ of the property is deemed a donation of his spouse to another person. So, his spouse must
file a separate donor’s tax return with gross gift of 500,000 also.
No. 2. Resident alien donor is subject to reciprocity. However, RA donor is subject to donor’s tax for
donation made within and without the Philippines.
• True True
• False False
• True False
• False True
3.No 1. If the gift (donation) involves conjugal/community property, each spouse shall file separate
return corresponding to his/her respective share in the conjugal/community property donated. This rule
shall likewise apply in the case of co-ownership over the property being donated.
No 2. The interest rate to be imposed for late filing of 2018 donor’s tax return will be 20%.
• True True
• False False
• True False
• False True
4. In 2019: A, a lessee, donated the leased land to B worth 1M. What is the donor’s tax due?
• 40,000
• 45,000
• 60,000
• 44,000
• None of the above
5. No 1. Non resident alien not engaged in business in the Philippines donated property worth P 15,000
located in USA to a resident citizen of Philippines; thus, the donation is subject to donors tax per NIRC.
No 2. . If gift involves conjugal or community property, the spouse shall file one tax return to be filed in
BIR for a calendar year.
• True True
• False False
• True False
• False True
[Show More]