Student: Alexis O.

King
Course and Year: BSA 2C

PROBLEM 12-1:
Donation to the legitimate son P 200,000
Less: Exempt amount (250,000)
Taxable gift P 0
Donor’s tax P 0

PROBLEM 12-2:
Donation to son P100,000
Donation to daughter 100,000
Total P 200,000
Less: Exempt amount 250,000
Taxable gifts P 0
Donor’s Tax P 0

PROBLEM 12-3:
Donation to son P200,000
Donation to daughter 150,000
Total P 350,000
Less: Exempt amount 250,000
Taxable gifts P100,000
Donor’s Tax at 6% P 6,000

PROBLEM 12-4:
Donation P 500,000
Less: Exempt amount 250,000
Taxable gifts P 250,000
Donor’s Tax at 6% P 15,000

PROBLEM 12-5:
Donation to son P520,000
Donation to daughter-in-law 180,000
Total P 700,000
Less: Exempt amount 250,000
Taxable gifts P 450,000
Donor’s Tax at 6% P 27,000
PROBLEM 12-6:
Donation of June 5, 2019 P 720,000
Less: Exempt Amount 250,000
Taxable Gift P 470, 000
Donor’s Tax at 6% on net gift of June 5 2019 P 28,200

Donation of Nov 10, 2020 P 380,000

Less: Exempt amount 250,000
Taxable gifts 130,000
Donor’s tax at 6% P 7,800

PROBLEM 12-7:
Mr. Edralin Mrs. Edralin
Gift made (for each ½ of 750,000) P 375,000 P 365,000
Less: Exempt amount 250,000 250,000
Taxable gift P 125,000 P 125,000
Donor’s tax at 6% P 7,500 P 7,500

PROBLLEM 12-8:

In the Philippines:
Gift to son, property in the Philippines P 1,000,000
In foreign country:
Gift to daughter, property outside the Philippines 2,000,000
Total gifts, world P 3,000,000

Donor’s tax:
250,000 is exempt
6% of P 2,750,000 165,000
Less: Tax credit 75,000
Still due P 90,000

Foreign donor’s tax paid 75,000

Limitation:
(2,000,000/3,000,000*165,000) 110,000
Allowed 75,000

PROBLEM 12-9:
In the Philippines:
Donation to son P 1,000,000
In Foreign Countries:
Donation to daughter, in Malaysia 1,000,000
Donation to Grandson, in Indonesia 3,000,000
Taxable gifts, world P 5,000,000

Donors Tax:
250,000 is exempt
6% of 4,750,000 285,000
Less: Tax Credit 228,000
Still due P 57,000

Foreign donor’s tax paid:

Malaysia 90,000
Indonesia 200,000 290,000
Limitation:
(4,000,000/5,000,000*285,000) 228,000
Allowed 228,000