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DONORS TAX EXERCISES

Atty. Macmod, C.P.A


2018

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.

2. First statement: Gifts in favor of an educational and/or religious organizations are


exempt from donors tax.
Second statement: Gifts on account of a persons merits or services rendered are
taxable whether the services are demandable debt or not.
a. Both statements are correct c. Only first statement is correct
b. Both statement are incorrect d. Only second statement is correct

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.

5. One of the following statements is false:


a. Contracts of donation between husband and wife are void in all cases.
b. The donation by Chavit to Pres. Macapagal in view of her public office is void in
all cases.
c. Donations between persons guilty of adultery or concubinage are void.
d. Donations to conceived or unborn children are valid.

In the following questions choose:


a. If only the first statement is correct.
b. If only the second statement is correct.
c. If both statements are correct.
d. If both statement are incorrect.

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.

7. 1st statement An inofficious donation is voidable.


2nd statement As to purpose, gift tax is an ad valorem tax.

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.

Aishah, a Filipina princess made the following donations.


a. To Zaida, a land worth P 450,000 in Cubao.,zonal value P500,000
b. To Hejia, jewelry worth P 100,000 in Hongkong.
c. To Shahida, PLDT shares amounting to P 150,000.
d. To Haida, a building in Italy P 1,600,000 mortgaged for P 50,000 assumed by the
donee.
e. To Goliath, land in Pampanga worth P 300,000.
f. P 300,000 cash, PNB New York to Charlie

She has also transferred the following properties:

Selling Price FMV


Car, Makati P 200,000 P 300,000
Car, USA 300,000 200,000
Land, Philippines 1,000,000 2,000,000

13. If she is resident Alien her gross gift is:


a. P 2,100,000 c. P 3,050,000
b. P 2,950,000 d. P 3,000,000

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

Questions 15 to 18 are based on the following data:

Mr. and Mrs. Lapu-Lapu, made the following donations:


1/25/CY To Magellan, their legitimate son, on account of marriage last 1/20/CY, car
worth P 300,000, with P 200,000 mortgage, ½ was assumed by the
donee.

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.

7/15/CY To Donita, daughter of Mrs. Lapu-Lapu by former marriage, on account of her


marriage 12 months ago, Mrs. Lapu-Lapus paraphernal property worth P
200,000.

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

16. The gift tax of Mrs. Lapu-Lapu as of July 15, CY is:


a. P 3,600 c. P 2,600
b. P 2,800 d. P 3,000

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

18. The gift tax due of their kumpare is:


a. P 30,000 c. P 10,000
b. P 45,000 d. P 6,000

Questions 19 to 20 are based on the following data:


Mr. Pinya, made the following donations for the year CY:

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

20. The gift tax due on July 20, CY is:


a. P 40,000 c. P 36,000
b. P 84,000 d. P 30,000

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.

To Jessica niece of Mr. Reyes, on account of marriage, a property


located in the USA exclusively owned by the husband, FMV, P 150,000 (
gift tax in USA, P 5,500)

Oct. 9 : To Gail, a legitimate child, conjugal property in the Philippines, FMV,


P 100,000.
The gift tax payable on the September 25 gifts of the husband is:
a. P 7,600 c. P 6,000
b. P 4,247 d. P 3,429

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

26. Mr. Porontong made the following gifts to his relatives:


Phiis. USA UK Italy
Gross gift P 750,000 P 500,000 P 250,000 P 500,000
Deductions 250,000 200,000 150,000 150,000
Tax paid 25,000 12,000 10,000

The gift tax due after credit is:


a. P 35,600 c. P 25,600
b. P 33,520 d. P ______
27. In 2006, Maynard made the following gifts:
1. On June 1, CY, P150,000 to Karen, his daughter, on
account of her marriage celebrated on May 1, last year.
2. On July 10, CY, a parcel of land worth, P180,000 to his
father, subject to the condition that the father would
assume the mortgage indebtedness of Maynard in the
amount of P40,000.
3. On September 30, CY, P150,000 dowry to his daughter
Gina, on account of her scheduled marriage on October 25
,CY, and another wedding gift worth P20,000 on
November 23, CY.

How much is the total net gifts?


a. P500,000 c. P430,000
b. P450,000 d. P460,000

28. Who is not subject to the donors tax?


a. An individual making a donation.
b. A corporation making a donation.
c. A partnership making a donation.
d. An employer who pays premiums on the life insurance of its employee.

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.

The allowable deduction is:


a. P10,000 c. P40,000
b. P20,000 d. P 100,000

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

32 to 35 are based on the following data:

Mr. Cortez made the following gifts:


02-15-18 P100,000
04-15-18 80,000
06-15-18 200,000
08-18-18 250,000
09-18-19 300,000

32. The gift tax on the 04-15-18 donation is ______________________.


33. The gift tax on the 06-15-18 donation is _____________________.
34. The gift tax on the 08-18-18 donation is _____________________.
35. The gift tax on the 09-18-19 donation is _____________________.

36. Mr. Porontong made the following gifts:


Phils. USA UK Italy
Gross gift P750, P500, P250, P500,
000 000 000 000
Deductio 250,000 200,000 150,000 150,000
ns
Tax paid 25,000 12,000 10,000

The gift tax due after credit is:


a. P 35,600 c. P 33,520
b. P 25,600 d. None of the above

37. Who is not subject to the donors tax?


a. An individual making a donation.
b. A corporation making a donation.
c. A partnership making a donation.
d. An employer who pays premiums on the life insurance of its employee.

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