A donor made the following donations during 2018:To Abel, a car worth 800,000To Jen, a condominium worth 3,000,000 in MacauTo Gore, GJ Company shares (domestic corporation) amounting to 250,000 To Alexa, 100,000 worth of shares of stock of a resident foreign corporation where 90%of its operation is in the PhilippinesTo Earl, a building in Singapore valued at 5,000,000 mortgaged for 2,000,000 assumedby the doneeTo Hannah, parcel of land in Isabela, 1,500,000To Chen, 100,000 bank deposit in BPITo Kristine, 100,000 bank deposit in Metrobank, US BranchTo Gavrie, 500,000 cashThe donor also made the following transfer of properties within the year: ConsiderationReceived Fair market value at thE time of transfeR Land 1 – QC 2,000,000 3,000,000Land 2 – Taguig 3,000,000 2,000,000Land 3 – USA 5,000,000 10,000,000Car – Manila 800,000 ,000,000RequiredDetermine the amount of Gross Gifts subject to donor’s tax assuming the donor is1. Resident Citizen2. Nonresident Citizen3. Resident Alien4. Nonresident Alien with Reciprocity5. Nonresident Alien without Reciprocity
A donor made the following donations during 2018:
To Abel, a car worth 800,000
To Jen, a condominium worth 3,000,000 in Macau
To Gore, GJ Company shares (domestic corporation) amounting to 250,000
To Alexa, 100,000 worth of shares of stock of a resident foreign corporation where 90%
of its operation is in the Philippines
To Earl, a building in Singapore valued at 5,000,000 mortgaged for 2,000,000 assumed
by the donee
To Hannah, parcel of land in Isabela, 1,500,000
To Chen, 100,000 bank deposit in BPI
To Kristine, 100,000 bank deposit in Metrobank, US Branch
To Gavrie, 500,000 cash
The donor also made the following transfer of properties within the year:
Consideration
Received
Fair market value at thE time of transfeR
Land 1 – QC 2,000,000 3,000,000
Land 2 – Taguig 3,000,000 2,000,000
Land 3 – USA 5,000,000 10,000,000
Car – Manila 800,000 ,000,000
Required
Determine the amount of Gross Gifts subject to donor’s tax assuming the donor is
1. Resident Citizen
2. Nonresident Citizen
3. Resident Alien
4. Nonresident Alien with Reciprocity
5. Nonresident Alien without Reciprocity
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