Transfer and business taxes by ampongan 6th sol man 11

EXERCISES 11-1

1.

House, Manila
Land, Canada
Car, Philippines
Jewelries, Canada
Domestic shares
Foreign shares
Gross gift

Resident
or citizen

NRA (with
reciprocity
)

NRA (no
reciprocity
)

P1,500,00
0
800,00
0
350,00
0
80,00
0

125,00
0
250,00
0
P3,105,00
0

P1,500,00
0
-

P1,500,00
0
-

350,00
0
-

350,00
0
-

.

125,00
0
.

P1,850,00

0

P1,975,00
0

-

* Resident citizen, resident alien and nonresident citizen
2.

Bank deposit, Manila
Franchise exercised in Philippines.
Shares of stock, domestic corporation
Shares of stock, Indonesian Corp., 86% business
in the Philippines.
Shares of stock, foreign corporation, with
business situs in the Philippines
Interest, partnership established in Philippines
Gross gift

50,000
20,000
72,000
130,000
50,000
100,000
422,000

3.

Land, Lucena City
Passenger jeepney
Shares of stock - traded (P105+104) / 2 x 1,000
Shares of stock - not traded (P50 x 500)
Gross gift

4.

Bigay cannot validly donate a community property without
the consent of his spouse because he does not solely own the
property. A community property is a co-ownership of the
spouses, each of them owning one-half (1/2) of its value.

42

P 150,000
275,000
104,500
25,000
P 554,500