Marco made the following donations to his children in 2021: To Juan - Argicultural land in Nueva Ecija (Zonal value Php 5 Million; Assessed value Php 4 Million) made on January 31, 2021. To Clyde - New car worth 5 Million made on March 22, 2021. To Sevi - Cash in the amount of Php 5 Million made on April 19, 2021. How much is the donor’s tax to be paid on March 22, 2021?

Marco made the following donations to his children in 2021: To Juan - Argicultural land in Nueva Ecija (Zonal value Php 5 Million; Assessed value Php 4 Million) made on January 31, 2021. To Clyde - New car worth 5 Million made on March 22, 2021. To Sevi - Cash in the amount of Php 5 Million made on April 19, 2021. How much is the donor’s tax to be paid on March 22, 2021?

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter10: Individuals: Income, Deductions, And Credits

Section: Chapter Questions

Problem 3CE

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Marco made the following donations to his children in 2021:

To Juan - Argicultural land in Nueva Ecija (Zonal value Php 5 Million; Assessed value Php 4 Million) made on January 31, 2021.

To Clyde - New car worth 5 Million made on March 22, 2021.

To Sevi - Cash in the amount of Php 5 Million made on April 19, 2021.

How much is the donor’s tax to be paid on March 22, 2021?

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