Name:

Program:
Year:
Submission Date:

Instruction: Place your handwritten solutions on a piece

of paper. Scan or capture your output in portrait. Attach
the file prior to submission.

Problem

In 2020, a resident citizen made the following gifts:

 On March 1, P200,000 to his son, on account of
marriage celebrated on January 1, 2020
 On May 30, a parcel of land worth P500,000 to his
brother, subject to the condition that the donee
would assume the mortgage indebtedness of in the
amount of P100,000
 On June 30, P300,000 to an ailing friend
 On July 31, P200,000 cash to Bantay Bata
 On September 30, a house and lot worth
P3,000,000 to his daughter and son in law, on
account of their scheduled marriage on December
25, 2020. A mortgage of P600,000 will be assumed
by the donees
Required: Determine the tax payable on:
a) March 1
b) May 30
c) June 30
d) July 31
e) September 30