RC NRC

To Abel, a car worth P800,000 800,000 800,000

Jen, condominium unit - P3,000,000 in Macau 3,000,000 3,000,000
Gore, GJ Company shares (domestic corp.) amounting to P250,000 250,000 250,000
Alexa, P100,000 worth of shares of stock of a resident foreign corporation 100,000 100,000
where 90% of its operation is in the Philippines
Earl, building in Singapore valued at P5,000,000 mortgaged 5,000,000 5,000,000
for P2,000,000 assumed by the donee
Hananiah, parcel of land in Isabela, P1,500,000 1,500,000 1,500,000
Chen, P100,000 bank deposit in BPI 100,000 100,000
Kristine, P100,000 bank deposit in Metrobank, U.S branch 100,000 100,000
Gavrie, P500,000 cash 500,000 500,000
Land 1 - QC - insufficient consideration but subject to CGT - real prop. PH
Land 2 Taguig - bona fide sale
Land 3 - USA not subject to CGT coz real property not in PH 5,000,000 5,000,000
Car - Manila 200,000 200,000
GROSS GIFTS 16,550,000 16,550,000
 RA NRA-reciprocity NRA- w/o reciprocity
800,000 800,000 800,000
3,000,000
250,000 250,000
100,000 100,000

5,000,000

1,500,000 1,500,000 1,500,000

100,000 100,000
100,000
500,000 500,000 500,000

5,000,000
200,000 200,000 200,000
16,550,000 3,000,000 3,450,000
 RA NRA w/reciprocity
To pedro, parcel of land worth P4,500,000 located in Pasig 4,500,000 4,500,000
To Amber, parcel of land worth P1,000,000 located in Malaysia 1,000,000
To Roger, PLDT shares amounting to P1,500,000 1,500,000
To Aby, building in Belgium worth P2,000,000 mortgaged for 2,000,000
P500,000 assumed by the donee
To Alex, land in Pampanga worth P3,000,000 3,000,000 3,000,000
To Jamylle, P500,000 cash in PNB New York 500,000
Car, Alabang 200,000 200,000
Car, Malaysia 200,000
Land in Mactan Cebu
GROSS GIFTS 12,900,000 7,700,000
A.) Donor's Tax Due
P0 subject to Capital Gains Tax - Capital Asset - Land

B.) Capital Gains Tax

FMV * 6%
FMV P 2,500,000
CGT rate 6%
P 150,000

Classified as an ordinary asset

C.) Donor's Tax Due
FMV P 2,500,000
SP 1,500,000
Gift P 1,000,000
Tax Exempt Gift (250,000)
Taxable Gift P 750,000
Donor tax rate 6%
P 45,000

D.) Capital Gains Tax

P0 subject to donors tax - classified as ordinary asset
A.) Donor's Tax Due
FMV P 850,000
SP (400,000)
Gross Gifts P 450,000
Exempt Gift (250,000)
Taxable Gift P 200,000
Donor tax rate 6%
P 12,000

B.) Donor's Tax Due (ordinary course of business)

P0 400,000 SP
(500,000) Cost
(100,000) loss
a.) March 1
P0 Exempt

b.) May 30
Gross Gift P 500,000
Less: Allowable deductions (100,000)
Add: Prior net gift 200,000
Total Net gifts P 600,000
Less: Tax exempt gift (250,000)
Total Net Taxable Gift 350,000
Donor's Tax rate 6%
Donor's tax due P 21,000
Less: Tax paid 0
Donor's tax payable - May 30 P 21,000

c.) June 30
Gross Gift P 300,000
Add: Prior net gift 600,000
Total Net gifts P 900,000
Less: Tax exempt gift (250,000)
Total Net Taxable Gift 650,000
Donor's Tax rate 6%
Donor's tax due P 39,000
Less: Tax paid (21,000)
Donor's tax payable - May 30 P 18,000

d.) July 31
P0 Exempt

e.) September 30
Gross Gift P 3,000,000
Less: Allowable deductions (600,000)
Add: Prior net gift 900,000
Total Net gifts P 3,300,000
Less: Tax exempt gift (250,000)
Total Net Taxable Gift 3,050,000
Donor's Tax rate 6%
Donor's tax due P 183,000
Less: Tax paid (39,000)
Donor's tax payable - May 30 P 144,000
a.) March 30, 2021
Gross gift P 1,000,000
Less: Allowable Deductions 0
Net Gift P 1,000,000
Less: Tax exempt (250,000)
Total Net Taxable Gift P 750,000
Donor's Tax Rate 6%
Donor's Tax Due/ Payable P 45,000

b.) May 1, 2021

Gross Gift P 2,000,000
Less: Allowable Deductions 0
Net Gift, current P 2,000,000
Add: Prior net gift 1,000,000
Total Net Gifts 3,000,000
Less: Tax exempt (250,000)
Total Net Taxable Gift P 2,750,000
Donor's Tax Rate 6%
Donor's Tax Due Payable P 165,000
Less: Tax Paid (45,000)
Donor's Tax Payable 120,000
a.) June 6, 2021
Husband Wife Total
Gross Gift 3,300,000 3,300,000
Less: Allowable Deductions (200,000) (200,000)
Net Gift 3,100,000 3,100,000
Less: Tax Exempt (250,000) (250,000)
Total Net Taxable Gift 2,850,000 2,850,000
Donor's Tax Rate 6% 6%
Donor's Tax Due/Payable 171,000 171,000 342,000

b.)October 8,2021
Husband Wife Total
Gross Gift 300,000 300,000
Less: Allowable Deductions 0 0
Net Gift 300,000 300,000
Add: Prior net gift 3,100,000 3,100,000
Total Net Gift 3,400,000 3,400,000
Less: Tax Exempt (250,000) (250,000)
Total Net Taxable Gift 3,150,000 3,150,000
Donor's Tax Rate 6% 6%
Donor's Tax Due 189,000 189,000
Less: Donor's Tax Paid (171,000) (171,000)
Donor's Tax Payable 18,000 18,000 36,000

c.) November 4, 2021

Husband Wife Total
Gross Gift 200,000 200,000
Less: Allowable Deductions 0 0
Net Gift 200,000 200,000
Add: Prior net gift 3,400,000 3,400,000
Total Net Gift 3,600,000 3,600,000
Less: Tax Exempt (250,000) (250,000)
Total Net Taxable Gift 3,350,000 3,350,000
Donor's Tax Rate 6% 6%
Donor's Tax Due 201,000 201,000
Less: Donor's Tax Paid (189,000) (189,000)
Donor's Tax Payable 12,000 12,000 24,000
 February 15, 2021
Mr. Palabigay Mrs. Palabigay Total
Gross Gifts 2,000,000 2,000,000
Less: Allowable Deductions (1,000,000) (1,000,000)
Net gifts 1,000,000 1,000,000
Less: Exempt Gift (250,000) (250,000)
Total Net Taxable Gift 750,000 750,000
Donor's Tax Rate 6% 6%
Donor's Tax Due/Payable 45,000 45,000 90,000

a.) March 30, 2021

Mr. Palabigay Mrs. Palabigay Total
Gross Gifts 2,000,000
Less: Allowable Deductions 0
Net gift, current 2,000,000
Add: Prior net gift 1,000,000
Total Net Gift 3,000,000
Less: Exempt Gift (250,000)
Total Net Taxable Gift 2,750,000
Donor's Tax Rate 6%
Donor's Tax Due 165,000
Donor's Tax Paid (45,000)
Donor's Tax Payable 120,000 120,000
T
T
F
T
T
T
F
T
F
F
T
F
F
F
F
T
F
F
F
T
T
T
F
T
F
A 24 Gross Gift 1,000,000
A Less: Tax exempt (250,000)
C Net Taxable Gift 750,000
C
C 26 Gross Gift 2,500,000
D Less: Allowable Deduction (500,000)
D Net Gift 2,000,000
D Less: Tax exempt (250,000)
D Net Taxable Gift 1,750,000
C
D 27 Land, FMV 6,800,000
A Cash 1,500,000
C Total Gross Gifts 8,300,000
B Less: Allowable Deduction (800,000)
A Net gifts 7,500,000
D
A 28 Car, FMV 1,000,000
B Less: Mortgage (500,000)
C Net Gift 500,000
B Less: Tax exempt (250,000)
C Total Net Taxable Gifts 250,000
A Donor's Tax Rate 6%
A Donor's Tax Payable, Apr.1 15,000
C
A 29 Land 5,000,000
A Prior net gift, Apr. 1 500,000
D Total Net Gifts 5,500,000
B Less: Tax exempt (250,000)
A Total Net Taxable Gifts 5,250,000
A Donor's Tax Rate 6%
B Donor's Tax Due 315,000
A Donor's Tax Paid (15,000)
B Donor's Tax Payable, May 31 300,000
B
B 30 Mar. 1,2020 Mr. Mapagbigay
A Gross Gift 250,000
D Less: Allowable Deduction 0
A Net Gifts, current 250,000
B Less: Tax exempt (250,000)
C Total Net Taxable Gifts 0
Donor's Tax Due/ Payable 0

31 May 1,2020 Mr. Mapagbigay

Gross Gift 200,000
Less: Allowable Deduction 0
Net Gifts, current 200,000
Add: Prior Net Gift, May 1 250,000
 Total Net Gifts 450,000
Less: Tax exempt (250,000)
Total Net Taxable Gifts 200,000
Donor's Tax Rate 6%
Donor's Tax Due 12,000
Donor's Tax Paid 0
Donor's Tax Payable 12,000

32 July 1,2020 Mr. Mapagbigay

Gross Gift 100,000
Less: Allowable Deduction 0
Net Gifts, current 100,000
Add: Prior Net Gift 450,000
Total Net Gifts 550,000
Less: Tax exempt (250,000)
Total Net Taxable Gifts 300,000
Donor's Tax Rate 6%
Donor's Tax Due 18,000
Donor's Tax Paid (12,000)
Donor's Tax Payable 6,000

Mar. 1 0
May. 21 24,000
Jul. 1 12,000
Total Donor's Tax Payable 36,000

33 Jan. 24
Gross Gift 2,000,000
Less: Allowable Deduction (500,000)
Net Gifts, current 1,500,000
Less: Tax exempt (250,000)
Total Net Taxable Gifts 1,250,000
Donor's Tax Rate 6%
Donor's Tax Due/Payable 75,000

34 Nov. 30
Gross Gift 4,500,000
Less: Allowable Deduction 0
Net Gifts, current 4,500,000
Add: Prior Net Gifts 1,500,000
Total Net Gifts 6,000,000
Less: Tax exempt (250,000)
Total Net Taxable Gifts 5,750,000
Donor's Tax Rate 6%
Donor's Tax Due 345,000
Donor's Tax Paid - prior gift (75,000)
Donor's Tax Credit (258,750)
Donor's Tax Payable 11,250
mortgage

Mrs. Mapagbigay
250,000
0
250,000
(250,000)
0
0

Mrs. Mapagbigay
200,000
0
200,000
250,000
 450,000
(250,000)
200,000
6%
12,000
0
12,000

Mrs. Mapagbigay
100,000
0
100,000
450,000
550,000
(250,000)
300,000
6%
18,000
(12,000)
6,000