CHAPTER 4

3-1. DISCUSSION QUESTIONS / PROBLEMS

1.

a.
b.
c.
d.
e.
f.
g.
h.
i.

Trees attached to the land

Pigeon houses
Usufruct over a parcel of land
Fertilizer actually used on a piece of land
Wooden scaffoldings
Machineries installed by the owner
Building constructed by the lessee
Machineries installed by lessee
Steamship President Cleveland

2.

(a), (b) and (c)

Real property
Real property
Real property
Real property
Personal property
Real property
Personal property
Personal property
Personal property

Residential house
Car
Farm in Quezon
Shares of stock
Condominium unit in Canada
Time deposit in Canadian Bank
Gross estate
3.

P2,500,000
650,000
1,200,000
550,000
4,000,000
260,000
P9,160,000

a. Nonresident alien ( with reciprocity)

House and lot, Manila

P2,000,000

b. Nonresident alien (no reciprocity)

House and lot, Manila
Shares of stock, Philippine corporation
Shares of stock, Hongkong Corporation with business situs
Accounts receivable, Philippine debtor
Proceeds of revocable life insurance
Savings deposit, Manila Bank
Gross estate
4.

P2,000,000
125,000
175,000
60,000
150,000
45,000
P2,555,000

a. Nonresident alien (with reciprocity)

No gross estate shall be subject to tax because all properties are
intangible personal within the Philippines. Only real properties and tangible
personal properties within are included in the gross estate of a nonresident
alien (with reciprocity) decedent.
b. Nonresident alien (no reciprocity)
Shares of stock, Po Lu Tan Corporation
Bonds, Tsi Tsa Company
Franchise, Philippines
Gross estate

P 225,000
60,000
200,000
485,000