Master Your Semester With Scribd & The New York Times: Taxation - Donors-Tax - Quizzer - 2018

Search   Upload Sign In Join
RELATED TITLES
1 0
 Home 2 views
Taxation -Donors-Tax - Quizzer - 2018

 Saved
Uploaded by Kenneth Bryan Tegio 
nlasdnasdslasdas
 Books
    Transfer Taxes 357142904-Vera- f706a

 Audiobooks
Save Embed Share Print vs-Navaro-
 Magazines
Download 1 of 6    Search document 
 News
 Documents
 Sheet Music
TAX00 – Donor
Donor’s Tax
Theories
1. Donations that do not conform to legal formalities are

a. Taxable under
under Donor’s tax notwithstanding
notwithstanding absence for
for formalities
formalities
b. Exempt from Donor’s tax
c. Subject to Estate tax
d. Subject to income tax
2. Acceptance isis essential for a valid donation

donation to be subject to donor’s tax, except transfers
transfers
a. in trust by the donor in favour of a beneficiary
b. of business interest by the donor in favour of an stranger
c. for less than adequate consideration
d. by Filipino residents to non-resident aliens
3. The donation
donation of an immovable
immovable property
property shall be made
made
a. In writing c. Either A or B
b. In a public instrument d. Orally
4. Using the preceding number, acceptance by the donee may be made

a. In the same deed of donation c. Either A or B
b. In a separate document d. Neither A nor B
5. The donation
donation of a movable
movable property may be made
a. Orally b. In writing c. Either A or B d. Neither A nor
6. Using the preceding number, the donation and acceptance should be in writing if the value of the
property donated is
a. Less than P5,000 b. P5,000 or less c. P5,000 or more d. More than P5,000
7. A donation which takes

takes effect upon the death of
of the donor
donor
a. Donation mortis causa
b. Partakes of the nature of a testamentary disposition
c. Shall be governed by the law on succession
d. A, B and C
8. A donation which is intended

intended by the donor to take
take effect during his lifetime
lifetime
a. Shall be subject to donor’s tax using the tax table for donation
b. Shall be in writing if the value exceeds P5,000
Master your semester with Scribd
c. Donation inter-vivos
d. A, B and C
inter-vivos
Read Free Foron
30this
Days

Sign up to vote title
& The New York Times 
9. Which is incorrect
incorrect concerning
concerning donation?
donation?  Useful  Not useful
Cancel anytime.
Special offer for students:
a. RealOnly $4.99/month.
property is transferred by donation only if made under a public instrument
b. Donation of intangible personal property should be in writing
  Upload Sign In Join
 Home
 Saved
 Books
 Audiobooks
 Magazines
 News
 Documents
 Sheet Music
Master your semester with Scribd Read Free For 30 Days

Cancel anytime.
Special offer for students: Only $4.99/month.
RELATED TITLES
1 0
 Home 2 views

 Saved
nlasdnasdslasdas
 Books

 Audiobooks
 Magazines
 News
 Documents
 Sheet Music 12. All elements

elements of donor’s
donor’s tax must
must always concur
concur for the donation
donation to be valid. Except
Except
a. Acceptance c. Capacity
b. Delivery d. Intent
13. Donor’s tax rate is at

a. 6% c. 2 – 15%
15%
b. 30% d. 5% - 20%
14. Donor’s tax applies to gifts

a. In excess of P250,000 c. In excess of P100,000
b. In excess of P200,000 d. All gifts
15. Dowries valued P10,000 made

made on account of marriage by parents to their children is subject to
a. Donor’s tax c. Estate tax
b. Exemption d. Income tax
16. Donor’s tax should be paid by the?

a. Donor c. Administrator
b. Donee d. Executor
17. This are considered

considered void donations,
donations, except
a. Between husband and wife
b. Made to public officer or his/her family on account of his/her office
c. Any physician,
physician, health officer,
officer, priest who took
took care or extended
extended spiritual
spiritual care
care to the donor
donor during
last illness
d. Donation to an unborn child
18. Jerwin, a surviving

surviving spouse,
spouse, renounced
renounced his share in the conjugal partnership
a. Renunciation is subject to d onor’s tax
b. Renunciation is subject to estate tax
c. Renunciation is exempt from donor’s tax
d. Renunciation is void
19. Sonly renounced his inheritance in the estate

a. Renunciation is subject to donor’s tax
b. Renunciation is subject to estate tax
c. Renunciation is exempt from donor’s tax
d. Renunciation is void
20. Statement 1: Corporations are allowed to donate inter-vivos

Statement 2: Corporations are allowed to donate mortis-causa
a. Both are correct c. Only 1 is correct
b. Both are incorrect d. Only 2 is correct
21. The following transfers

transfers are taxable under donor’s tax, except?
a. Transfers made by the donor
donor to relieve himself of the burden of management of his propertie
b. Transfers made by the donor
donor to settle family
family disputes
c. Transfers made by a parent to see his children
disputes
children enjoy his Read
properties
Free while
Foronhethis
30 still lives 
stilltitle
Days
Sign up to vote
& The New York Times d. Transfers under
under power of general
general appointment
appointment 
 Useful  Not useful
Cancel anytime.
Special offer for22.
students:
WhichOnlyin$4.99/month.
is incorrect?
correct?
a. Donations of non-resident aliens involving properties located abroad to residents of the Philipp
 Home
 Saved
 Books
 Audiobooks
 Magazines
 News
 Documents
 Sheet Music

Cancel anytime.
RELATED TITLES
1 0
 Home 2 views

 Saved
nlasdnasdslasdas
 Books

 Audiobooks
 Magazines
 News
 Documents
24. Which of the following

following is not included in gross
gross gift?
 Sheet Music a. Transfers to non-profit non-stock
non-stock charitable
charitable institution
institution
b. The portion of the fair value of a property transferred
transferred adequately paid for in transfer
transfer for less
less tha
adequate consideration
c. The portion of the donation
donation representing
representing dowry exemption
exemption
d. Donation to the government for public use
25. Donation to the following entities is exempt from Donor’s taxation, except
a. Accredited national
national professional
professional organization
organization of certified
certified public accountant (PICPA)
(PICPA)
b. Integrated Bar of the Philippines
c. International Rice Research Institute
d. Ramon Magsaysay Award Foundation
26. I. Dowries or gifts made on account of family celebration, on or before its celebration, or within one
thereafter, by parents to each of their legitimate, recognized natural or adopted children, to the exten
the first P10,000 shall be exempt from the donor’s tax
II. Donations in favour of an educational and or charitable, religious, cultural or social welfare
corporation, institution, accredited non – government
government organization, trust or philanthropic organizat
research institution or organization
organization provided that no amount of said gifts shall be used by the donee
administration purposes
purposes shall be exempt from donor’s tax
a. True, true b. True, False c. False, True d. False, False
27. A. If the value

value of the movable property
property donated is
is P5,000 or more the donation
donation and the acceptance
be made in writing, otherwise the donation shall be void
B. Regardless of the value of the immovable property donated, the donation and the acceptance sha
made in writing, otherwise the donation shall be void.
a. True, True b. True, False c. False, True d. False, False
28. I. The gift is perfected from the moment the donor effects the delivery either actually or constructiv
the property donated
II. Donor’s tax is a property tax imposed on the property transferred by the way of gift inter -vivos
29. I. Where property is transferred during lifetime for less than adequate and full consideration in mon
money’s worth, then the amount by which the value of the property exceeded the value of the
consideration shall for the purpose of the donor’s tax, be deemed a gift
II. Gifts of conjugal property made by both spouses shall be considered as having been made one
by the husband and the other half by the wife and is taxable ½ to each donor spouse
30. I. For purpose of the donor’s tax, second degree cousins are strangers to each other.
II. Encumbrance on the property donated, if assumed by the donor is deductible for donor’s tax
purposes.
a. True, True b. True, False c. False,
ReadTrue
Free Foron d. title
30this
Days

False, False
Sign up to vote
31. I. As a rule, donation between husband and wife during the  Useful  Not useful
marriage is void. Cancel anytime.
II. Donation can be made to conceived or unborn children.
 Home
 Saved
 Books
 Audiobooks
 Magazines
 News
 Documents
 Sheet Music

Cancel anytime.
RELATED TITLES
1 0
 Home 2 views

 Saved
nlasdnasdslasdas
 Books

 Audiobooks
 Magazines
 News
 Documents
34. 1st Statement – A
A legally adopted child is entitled to all the rights and obligations provided
provided by law to
 Sheet Music legitimate children, and therefore, donation to him shall not be considered as donation made to stran
2nd Statement – Donation
Donation made between business organization and those made between an individu
and a business organization shall be considered as donation made to a stranger
a. Both statements are correct c. Only the first statement is correct
b. Both statements are incorrect d. Only the second statement is correct
35. 1st Statement – Any
Any contributions in cash or in kind to any candidate, political party or coalition of p
for campaign purposes, shall be governed by the Election Code, as amended
2nd Statement – Any
Any provision of law to the contrary notwithstanding,
notwithstanding, any contribution in cash or
to any candidate or political party or coalition of parties for campaign purposes duly reported to the
COMELEC shall not be subject to the payment of any gift tax
36. The donor’s tax is a

a. Property tax on the property transferred
b. Personal tax on the person who transferred the property
c. Tax imposed
imposed on the transfer
transfer of property
property by way
way of gift inter
inter vivos
d. Tax imposed
imposed on the transfer
transfer of property
property by way
way of gift mortis causa
37. 1st Statement – The
The donor’s tax shall not apply unless and
and until there is a completed
completed gift.
2 Statement – The
nd The law in force at the time of the perfection/completion
perfection/completion of the donation shall gove
the imposition of the donor’s tax
a. Both statements are correct
b. Both statements are incorrect
c. Only the first statement is correct
d. Only the second statement is correct
38. When is the donation perfected?

perfected?
a. The moment the donor knows
knows of the acceptance by the donee
b. The moment the donated property
property is delivered,
delivered, either actually
actually or constructively,
constructively, to the
the donee
c. Upon payment of the donor’s tax
d. Upon execution of the deed of donation
39. When is the donation completed?

completed?
a. The moment the donor knows
knows of the acceptance by the donee
b. The moment the donated property
property is delivered,
delivered, either actually
actually or constructively,
constructively, to the
the donee
c. Upon payment of the donor’s tax
d. Upon execution of the deed of donation
40. A gift that is incomplete

incomplete because of of reserved powers,
powers, becomes complete when
when either:
I – the
the donor renounces the power; or
II – the
the right to exercise the reserved power ceases because of the happening of some event or
contingency or the fulfillment of some condition, other than because of the donor’s death
a. True in both
both I and II c. True in I only
b. Not true in both I and II d. True in II only
Master your semesterrenunciatiowith Scribd
41. Which of the following renunciations
ns shall be subject to donor’s 
Signtax?
Read Free
up Foron
to vote 30this
Days
title
& The NewIcommunity
York after
Times
– Renunciation 
Renunciation by the surviving spouse of his/her share in the conjugal partnership or absolute
the dissolution of the marriage in favor of  Useful deceased spouse or any
the heirs of the Not useful
Cancel anytime.
person/s
II General renunciation by an heir, including the surviving spouse, of his/her share in the heredita
 Home
 Saved
 Books
 Audiobooks
 Magazines
 News
 Documents
 Sheet Music

Cancel anytime.
RELATED TITLES
1 0
 Home 2 views

 Saved
nlasdnasdslasdas
 Books

 Audiobooks
 Magazines
 News
 Documents
 Sheet Music 2nd – The

The law in force at the time of the completion of the donation shall govern the imposition of
donor’s tax
43. The following

following donations
donations were made by Don Lopot
Lopot during the
the taxable year:
year:
Donation to TESDA- priority project P900,000
Revocable donation of car to his son 800,000
Inadequate consideration of real property sold to his friend 700,000
Donation to his wife 300,000
Donation to his unborn grandchild 200,000
How much is the amount of donation subject to donor’s tax?

a. P2,000,000 b. P1,800,000 c. P900,000 d. P200,000
44. How much is the amount of gift subject to donor’s tax if X, a Filpino citizen, made a general
renunciation of his P2,000,000 inheritance in favor of his siblings and the inheritance was taken from
conjugal property of the parents?
a. P -0- b. P500,000 c. P1,000,000 d. P2,000,000
45. Ma, Ru, Nong and Daw are brothers and sisters. Their parents died leaving a total gross estate of
P11,000,000. Ma, being very rich, renounced his inheritance in favor of Daw.
How is the donor’s tax to be paid by Ma?

a. P -0- b. P 159,700 c. P 167,600 d. P 254,000
46. How much is the amount of the net gifts of each donor of a conjugal real property donation (costin
P2,000,000 but with fair market value of P3,500,000 at the time of donation) if such gift is given on
account of the donor’s child’s marriage within a year but with attached mortgage loan amounting to
P1,000,000 assumed by the child?
a. P1,250,000 b. P1,240,000 c. P500,000 d. P490,000
47. A resident alien,

alien, made the following gifts, during
during the year:
Wedding gift to her son given during the celebration held in the P500,000
Philippines
A car given to her daughter
daughter here in the Philippines 500,000
For the above gifts, the total Philippine donor’s tax would be
a. P43,400 b. P44,000 c. P270,000 d. P300,000
48. Mr. and Mrs. Asiong Salonga, spouses and citizens of the Philippines donated to their legitimate dau
on account of marriage the following properties at fair market values:
Vacation house (conjugal property)
property) in Hong
Hong Kong P500,000
Car in the Philippines (conjugal
(conjugal property) 240,000
Jewelry (exclusive
(exclusive property of
of Mrs. Salonga)
Salonga) 20,000

The donation was made within one year of their daughter’s marriage. What would be the donor’s
Mr. and Mrs. Salonga? Read Free Foron
30this
Days

Sign up to vote title
& The New York Times
a. P8,400 and P9,200, respectively
r espectively 
b. P4,800 and P9,600, respectively
r espectively  Useful  Not useful
Cancel anytime.
c. P5,200 and P9,200, respectively
r espectively
d. P5,600 and P8,800, respectively
r espectively
 Home
 Saved
 Books
 Audiobooks
 Magazines
 News
 Documents
 Sheet Music

Cancel anytime.
RELATED TITLES
1 0
 Home 2 views

 Saved
nlasdnasdslasdas
 Books

 Audiobooks
 Magazines
 News
 Documents
51. Mr. A, a resident alien gave a diamond ring worth P200,000

P200,000 to his wife on account of their anniversa
 Sheet Music How much is the taxable donation?
a. P200,000 b. P100,000 c. P50,000 d. P-0-
52. How much should be the net taxable gift for a wedding gift of P110,000 to a son given by the reside
alien on the wedding day.
a. P 120,000 b. P110,000 c. P100,000 d. P-0-
Mrs. Catherine Castro donated the following gifts to her recognized natural daughter on account of mar
to be held on January 5, 200B:
Date of Donation Donated Property FMV of Donation

December 29, 200A Cash P 6,000
January 1, 200B
200B House and Lot 300,000
53. How much is the donor’s tax in year 200B?

a. P None b. P6,000 c. P5,600 d. P5,840
54. For a net gift of P 150, 000 to a younger sister, the donor’s tax is
a. P45,000 b. P30,000 c. P1,000 d. Exempt
55. How much is the donor’s tax for a P 200, 000 donation made to the Filipino donor’s 2 nd cousin?
a. P-0- b. P2,000 c. P30,000 d. P60,000
Vangie, a widow, has three (3) sons: Jimmy, 27 years old, Joseph, 25 years old; and James, 23 years
August 15, 200A, she donated two (2) lots, each with FMV of P 150, 000, one (1) each to her
her sons Jimm
Joseph. On November
November 15, 200A,
200A, she gave cash
cash of P 150,
150, 000 to her
her son James as dowry
dowry on account of
forthcoming marriage on December 22, 200A.
56. The donor’s

donor’s tax due for the donation made on August 15, 200A is
a. Exempt b. P5,200 c. P6,000 d. P12,000
57. The donor’s

donor’s tax due for
for the donation made on November
November 15,
15, 200A is
a. P11,600 b. P6,000 c. P9,600 d. P5,600
58. If Mr. B, a non-resident Filipino, donated P 100, 000 each to his son and daughter-in-law, how much
the donor’s tax?
a. P-0- b. P10,000 c. P30,000 d. P60,000
59. San Miguel Corporation donated the following properties to its sister-company, Ginebra San Migue
Land P5,000,000
Investment in stocks 2,000,000
Cash 1,000,000
`
How much is the donor’s tax?
a. P-0- b. P764,000 c. P404,000 d. P2,400,000

60. During the calendar year, Mr. Masagana paid a total donor’s tax amounting to P 38, 000 to his two
legitimate children on account of marriage. On his first donation paid adonor’s t
Sign during
Read Free
up the year,
Foron
to vote hetitle
30this
Days
& The New York Times
amounting to P 13, 600. 
 Useful  Not useful
Cancel anytime.
The amount of
of gross gifts
gifts made on the first and
and second donation
donation would be
First Donation Second Donation
 Home
 Saved
 Books
 Audiobooks
 Magazines
 News
 Documents
 Sheet Music

Cancel anytime.

Master Your Semester With Scribd & The New York Times: Taxation - Donors-Tax - Quizzer - 2018

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Master Your Semester With Scribd & The New York Times: Taxation - Donors-Tax - Quizzer - 2018

Uploaded by

Copyright:

Available Formats

Search   Upload Sign In Join

Taxation -Donors-Tax - Quizzer - 2018

    Transfer Taxes 357142904-Vera- f706a

1. Donations that do not conform to legal formalities are

2. Acceptance isis essential for a valid donation

4. Using the preceding number, acceptance by the donee may be made

7. A donation which takes

8. A donation which is intended

Master your semester with Scribd Read Free For 30 Days

Taxation -Donors-Tax - Quizzer - 2018

    Transfer Taxes 357142904-Vera- f706a

 Sheet Music 12. All elements

13. Donor’s tax rate is at

14. Donor’s tax applies to gifts

15. Dowries valued P10,000 made

16. Donor’s tax should be paid by the?

17. This are considered

18. Jerwin, a surviving

19. Sonly renounced his inheritance in the estate

20. Statement 1: Corporations are allowed to donate inter-vivos

21. The following transfers

Master your semester with Scribd Read Free For 30 Days

Taxation -Donors-Tax - Quizzer - 2018

    Transfer Taxes 357142904-Vera- f706a

24. Which of the following

27. A. If the value

Master your semester with Scribd Read Free For 30 Days

Taxation -Donors-Tax - Quizzer - 2018

    Transfer Taxes 357142904-Vera- f706a

36. The donor’s tax is a

38. When is the donation perfected?

39. When is the donation completed?

40. A gift that is incomplete

Master your semester with Scribd Read Free For 30 Days

Taxation -Donors-Tax - Quizzer - 2018

    Transfer Taxes 357142904-Vera- f706a

 Sheet Music 2nd – The

43. The following

How much is the amount of donation subject to donor’s tax?

How is the donor’s tax to be paid by Ma?

47. A resident alien,