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Problem 12

Mr. Conrado Ortiz gifted cash to his children totaling ₱200,000, which was below the ₱250,000 exemption amount so he owed no donor's tax. Miss Dolores Domingo gifted ₱500,000 cash to her friend, which resulted in a ₱15,000 donor's tax after applying the ₱250,000 exemption. Ms. Imelda Rojas gifted a total of ₱700,000 cash to her son and daughter-in-law in one day, resulting in a ₱27,000 donor's tax after applying multiple exemptions.

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Fria Mae Aycardo Abellano
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661 views2 pages

Problem 12

Mr. Conrado Ortiz gifted cash to his children totaling ₱200,000, which was below the ₱250,000 exemption amount so he owed no donor's tax. Miss Dolores Domingo gifted ₱500,000 cash to her friend, which resulted in a ₱15,000 donor's tax after applying the ₱250,000 exemption. Ms. Imelda Rojas gifted a total of ₱700,000 cash to her son and daughter-in-law in one day, resulting in a ₱27,000 donor's tax after applying multiple exemptions.

Uploaded by

Fria Mae Aycardo Abellano
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Problem 12-2

Mr. Conrado Ortiz, a citizen and resident of the Philippines, gifted his children on Christmas day,
cash as follows:

Exempt from donor’s tax


Cash Donation ₱100,000
Less: Exempt Amount 250,000
Taxable gift 0.00
Donor’s Tax Donation to son 0.00
Donation to Daughter 100,000
Add: To Son 100,000
Total Donation 200,000
Exempt amount 250,000
Total taxable gift 0.00
Donor’s tax ₱0.00

Problem 12-4

Miss Dolores Domingo, a citizen and resident of the Philippines, made a cash donation of
₱500,000 to her best friend.

How much is the donor’s tax? ₱15,000


Cash Donation ₱500, 000
Less: Exempt Amount 250, 000
Taxable Gift 250, 000
Donor’s tax at 6% ₱15,000

Problem 12-5

Ms. imelda Rojas, a citizen and resident of the Philippines, on one day only, made donations of
cash, as follows:

How much was the donor’s tax? ₱27,000


To son ₱520,000
Less: Exempt amount 250, 000
Taxable gifts 270, 000
Donor’s tax on donation to son 16, 200
To daughter-in-law 180, 000
To son 520, 000
Total gift within the year 700, 000
Less: Exempt amount 250, 000
Taxable gift 450,000
Donor’s tax 27,000
Donor’s tax on donation to son (16,200)
Donor’s tax ₱10,000

Problem 12-7

Mr. and Mrs. Donato Edralin, citizens and residents of Manila, Philippines, made a joint
donation of ₱750, 000, out of community funds, to a son.

How much was the donor’s tax of:

Mr. Edralin? ₱7,500


Mrs. Edralin? ₱7,500

Mr. Edralin Mrs. Edralin


Donation (1/2 of each of 750,000) 375,000 375,000
Exempt Amount (250, 000) (250, 000)
Taxable gift 125, 000 125, 000
Donor’s Tax 7,500 7,500

Problem 12-9

Donations were made by a citizen of the Philippines as follows.

To son, cash in the Philippines ₱1, 000, 000


To daughter, property in Malaysia, Fair market value of 1,000,000
To grandson, cash in Indonesia 3,000,000
Total gift, world ₱5, 000, 000

Donor’s tax (4, 750, 000) 290, 000


Limitation (4, 000, 000/5,000,000x258, 000) 228, 000
Allowed ₱228, 000

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