Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Scribd Logo
Upload

Welcome to Scribd!

  • 1K views

    Donor's Tax Quiz

    Uploaded by

    sujulove forever
    The document contains information about several donations made by individuals and the computation of donor's tax. It includes donations made in 2018-2019 by Mahadera to a corporation, her boyfriend, and a friend. It also includes donations made in 2018 by Cula Fo, a nonresident alien, to relatives and organizations in the Philippines. Finally, it lists donations made in 2014 and 2016 by Victor, Mr. Santiago Baldado, and asks the reader to compute the donor's tax for each.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Donor's Tax Quiz

    Uploaded by

    sujulove forever
    1K views2 pages
    The document contains information about several donations made by individuals and the computation of donor's tax. It includes donations made in 2018-2019 by Mahadera to a corporation, her boyfriend, and a friend. It also includes donations made in 2018 by Cula Fo, a nonresident alien, to relatives and organizations in the Philippines. Finally, it lists donations made in 2014 and 2016 by Victor, Mr. Santiago Baldado, and asks the reader to compute the donor's tax for each.

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document contains information about several donations made by individuals and the computation of donor's tax. It includes donations made in 2018-2019 by Mahadera to a corporation, her boyfriend, and a friend. It also includes donations made in 2018 by Cula Fo, a nonresident alien, to relatives and organizations in the Philippines. Finally, it lists donations made in 2014 and 2016 by Victor, Mr. Santiago Baldado, and asks the reader to compute the donor's tax for each.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    1K views2 pages

    Donor's Tax Quiz

    Uploaded by

    sujulove forever
    The document contains information about several donations made by individuals and the computation of donor's tax. It includes donations made in 2018-2019 by Mahadera to a corporation, her boyfriend, and a friend. It also includes donations made in 2018 by Cula Fo, a nonresident alien, to relatives and organizations in the Philippines. Finally, it lists donations made in 2014 and 2016 by Victor, Mr. Santiago Baldado, and asks the reader to compute the donor's tax for each.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Name: ______________________________________

    Quiz – Donor’s Tax

    1. Mahadera made the following donations on 2018 and 2019:

    August 11, 2018 – To Josephine Company, a domestic corporation, cash worth P300,000
    November 20, 2018 – To her boyfriend Mang Huhuthut, a brand new car worth P1,550,000 on
    the occasion of his birthday
    January 5, 2019 – To her friend, Mang Gagamit, a townhouse in Tagaytay, which she purchased,
    last 2017, amounting to P1,350,000 and fair market value at the time of donation of P1,750,000.

    Compute for:
    a. Donor’s tax due on August 11, 2018 Donation.
    b. Donor’s Tax due on November 20, 2018 Donation
    c. Donor’s tax due on January 5, 2019

    2. Cula Fo, a nonresident alien, donated properties to the following donees:

    May 31, 2018

    Margarita – Filipina, auntie, a car registered in the US worth $10,000, at the time of donation,
    US $ is equivalent to P54.00

    Miguel – Best Friend, 1,000 shares of stocks of La Tondeña Corporation. On the date of
    donation, the shares are traded at the Philippine Stock Exchange. The highest and the lowest
    quoted prices were P10.50 and P11.00 respectively.

    Maria Tequila – Half-sister, a Mexican, vacation house in Baguio City worth P1,500,000 with a
    condition that Tequila will pay the mortgage indebtedness of P175,000 on the land.

    Mario Castle – cash worth P150,000

    June 30, 2018

    Johnny – legitimate son, Filipino, on account of marriage, P350,000

    Sin Fo – Daughter in law, on account of marriage to Rudolf LO, resident of Guang Dong, China –
    P50,000

    Fatima Parish – Cash of P15,000 for the renovation of the church.

    Assuming there is no reciprocity, compute for the donor’s tax payable by Cula Fo.

    3. Victor, a widower, donated the following properties:

    May 4, 2014 – to son, Panfilo, a parcel of land worth P1,350,000 on account of marriage.
    May 10, 2014 – To Gloria, sister, a vacant lot valued at P900,000. As a condition of donation,
    Gloria should pay PS Bank the remaining mortgage amounting to P75,000 on the said property.

    August 10, 2014 – Donated cash to DSWD amounting to P250,000 as relief to the victims of
    typhoon.

    Compute for the Donor’s tax for the year 2014.

    Mr Santiago Baldado donate the following during 2016:

    Date Description Mrket Value


    Jan 5 House and lot to Francis, his legitimate son, on account of marriage P1,000,000

    Mar 15 Car to Maria, his legitimate daughter on account of her birthday 300,000

    Apr 30 Cash to Susan, his secretary, on account of her birthday. On condition


    that P10,000 shall be given to charity, Kapuso Foundation 50,000

    May 10 Antique items to Tokmo, his uncle, on account of gratitude 100,000

    Jun 12 1 hectare lot donated to the local government unit to be used as housing
    Facilities 1,500,000

    The donor’s tax of Mr Baldado for the year would be?

    You might also like