After settlement of estate of Nicanor, it was determined that the net distributable estate amounted to Php 10,000,000. Nicanor's wife and JR, his son, are the beneficiaries. Sharing under the Civil Code: Inday - Conjugal Share is Php 5,000,000 and Distributive Share is Php 2,500,000 JR - Php 2,500,000 Assuming Nicanor died intestate, and that Inday renounces her CONJUGAL share, how much is the NET GIFT subject to Donor's Tax?
After settlement of estate of Nicanor, it was determined that the net distributable estate amounted to Php 10,000,000. Nicanor's wife and JR, his son, are the beneficiaries. Sharing under the Civil Code: Inday - Conjugal Share is Php 5,000,000 and Distributive Share is Php 2,500,000 JR - Php 2,500,000 Assuming Nicanor died intestate, and that Inday renounces her CONJUGAL share, how much is the NET GIFT subject to Donor's Tax?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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After settlement of estate of Nicanor, it was determined that the net distributable estate amounted to Php 10,000,000. Nicanor's wife and JR, his son, are the beneficiaries.
Sharing under the Civil Code:
Inday - Conjugal Share is Php 5,000,000 and Distributive Share is Php 2,500,000
JR - Php 2,500,000
Assuming Nicanor died intestate, and that Inday renounces her CONJUGAL share, how much is the NET GIFT subject to Donor's Tax?
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