NAME:_________________________________________DATE:____________________SCORE:_________

Quiz No. 1-Taxation (Transfer Taxation and Estate Tax Handout)

I. Matching Type. Identify the following terms being referred to. Choose your answer from the word box.

Transfers Donation Privilege Tax Ad Valorem Tax Progressive Tax

NIRC &TRAIN >183 days BIR Inheritance Testamentary
>180 days Mortis Causa Resident Alien Intestate Decedent
Congress Holographic Will Primary Heirs Legatee Federal Law
Devisee Resident Citizen Executor Notary Will National Tax

1. It is the gratuitous transfer of property from a living donor to a donee.

2. It is based on the assessed value of an item, such as real estate or personal property.
3. Guidelines followed for the present transfer taxation in the Philippines.
4. Citizens of a foreign country residing in the Philippines.
5. It refers to any transmission of property from one person to another.
6. It refers to gross receipt tax imposed by a certain persons for the privilege of carrying on a business or
occupation.
7. It is a tax that imposes a lower tax rate on low-income earners compared to those with a higher income.
8. Results from the designation of an heir, made in a will executed in the form prescribed by law.
9. A will which is entirely written, dated, and signed by the hand of the testator himself.
10. The person whose property is transmitted through succession, whether or not he left a will. If he left a will,
he is also called a testator.
11. Takes place when a person dies without a will or with a void will or one which has subsequently lost its
validity, or if no one succeeds under his will.
12. It includes all the property, rights, and obligations of a person which are not extinguished by death.
13. Legitimate Children and their direct descendants.
14. A person whom gifts of personal property are given by virtue of a will.
15. A person named by the decedent or testator to carry out the directions and requests in his will and to
dispose of his property according to his testamentary provisions after his death.
16. Days outside the Philippines needed for a Filipino citizen to be considered a non-resident citizen.
17. Days needed for a non-resident alien to be considered engaged in trade or business in the Philippines.
18. It is the donation valued at the date of death.
19. The agency tasked to assess and collect taxes.
20. It has the function to levy or impose taxes.

II. Enumeration

21-22. Types of Transfer Taxes

23-25. Kinds of Succession
26-28. Elements of Succession
29-30. Types of Donations
1. 11. 21.
2. 12. 22.
3. 13. 23.
4. 14. 24.
5. 15. 25.
6. 16. 26.
7. 17. 27.
8. 18. 28.
9. 19. 29.
10. 20. 30.

“The fear of the Lord is the beginning of wisdom,

And knowledge of the Holy One is understanding.”
Proverbs 9:10