Donor’s Tax (3 items x 5 points)

Read and analyze the problem. Provide the complete solutions using the
correct format. The following are the donations made by Mr. Mark Ramos on
the current year:
January 30, 2a19 P 3,000,000
April 30, 2a19 P 4,000,000
July 15, 2a19 P 1,000,000

Identify the tax due/paid on January, April, and July donations.

DATE OF DONATION AMOUNT DONOR's TAX

January 30, 2a19 P3, 000, 000
January 30, 2a19 donation P3, 000, 000
Less: Exempt gift (250, 000)
P2, 750, 000 P165, 000

April 30, 2a19 P4, 000, 000

April 30, 2a19 donation P4, 000, 000
Add: January 30, 2a19 donation 3, 000, 000
Less: Exempt gift (250, 000)
TOTAL P6, 750, 000
Tax due thereon 405, 000
Less: Tax/due paid in January donation 165, 000
Tax due payable in April 30, 2a19 P240, 000

July 15, 2a19 P1, 000, 000

July 15, 2a19 donation P1, 000, 000
Add: January 30, 2a19 donation 3, 000, 000
April 30, 2a19 donation 4, 000, 000
Less: Exempt gift (250, 000)
TOTAL P7, 750, 000
Tax due thereon 465, 000
Less: Tax/due paid on April donation 405, 000
Tax due payable in July 15, 2a19 P60, 000