The document outlines the gross estates of 4 different individuals for estate tax purposes:
1) A resident citizen with a gross estate of 20,050,000 pesos including property in the Philippines and Malaysia.
2) A resident alien with a gross estate of 2,500,000 pesos including shares deposited in Malaysia.
3) A non-resident alien with reciprocity and a gross estate of 13,000,000 pesos including property in the Philippines and shares deposited in Malaysia.
4) A non-resident alien without reciprocity and a gross estate of 11,000,000 pesos including property in the Philippines.
The document outlines the gross estates of 4 different individuals for estate tax purposes:
1) A resident citizen with a gross estate of 20,050,000 pesos including property in the Philippines and Malaysia.
2) A resident alien with a gross estate of 2,500,000 pesos including shares deposited in Malaysia.
3) A non-resident alien with reciprocity and a gross estate of 13,000,000 pesos including property in the Philippines and shares deposited in Malaysia.
4) A non-resident alien without reciprocity and a gross estate of 11,000,000 pesos including property in the Philippines.
The document outlines the gross estates of 4 different individuals for estate tax purposes:
1) A resident citizen with a gross estate of 20,050,000 pesos including property in the Philippines and Malaysia.
2) A resident alien with a gross estate of 2,500,000 pesos including shares deposited in Malaysia.
3) A non-resident alien with reciprocity and a gross estate of 13,000,000 pesos including property in the Philippines and shares deposited in Malaysia.
4) A non-resident alien without reciprocity and a gross estate of 11,000,000 pesos including property in the Philippines.
The document outlines the gross estates of 4 different individuals for estate tax purposes:
1) A resident citizen with a gross estate of 20,050,000 pesos including property in the Philippines and Malaysia.
2) A resident alien with a gross estate of 2,500,000 pesos including shares deposited in Malaysia.
3) A non-resident alien with reciprocity and a gross estate of 13,000,000 pesos including property in the Philippines and shares deposited in Malaysia.
4) A non-resident alien without reciprocity and a gross estate of 11,000,000 pesos including property in the Philippines.
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Heavenly Joy Cuaresma
BLT4A - C
Estate Tax Assignment 1
P 2.1
1. A resident citizen
Family home in the Philippines 8,000,000
Parcel of land with vacation house in 5,000,000 Malaysia Farm land in the Philippines, with a mortgage 3,000,000 in favor the Philippine National Bank for P 600,000 Shares of stock of a domestic corporation 2,000,000 deposited in a bank safety deposit box in Malaysia Shares of stock of a foreign corporation the 500,000 entire business of which is in the Philippines, deposited in a bank safety deposit box in Malaysia Receivable from a friend who has no property 300,000 whatsoever Receivables under insurance policies: 200,000 300,000 600,000 150,000 Total Gross Estate P 20,050,000
2. Resident Alien
Shares of stock of a domestic corporation 2,000,000
deposited in a bank safety deposit box in Malaysia Shares of stock of a foreign corporation the 500,000 entire business of which is in the Philippines, deposited in a bank safety deposit box in Malaysia Total Gross Estate P 2,500,000 3. Non-resident Alien with Reciprocity
Family home in the Philippines 8,000,000
Farm land in the Philippines, with a mortgage 3,000,000 in favor the Philippine National Bank for P 600,000 Shares of stock of a domestic corporation 2,000,000 deposited in a bank safety deposit box in Malaysia Total Gross Estate P 13,000,000
4. Non-resident alien without reciprocity
Family home in the Philippines 8,000,000
Farm land in the Philippines, with a mortgage 3,000,000 in favor the Philippine National Bank for P 600,000 Total Gross Estate P 11,000,000
