Donor’s Taxation – Comprehensive Midterms Reviewer (Set B)

The donor's tax is imposed on the basis of:

• Place where the donee resides

• Citizenship and residence of the donor

Which statement is correct?

• A non-resident citizen donor is taxable only on properties located in the Philippines

• A resident citizen donor is taxable on properties located both within and without the Philippines

A donation made in contemplation of death but inter vivos in form is taxable as:

• Donor's tax

• Estate tax

The donor's tax return must be filed:

• Within 15 days after the donation

• Within 30 days after the donation

Which of the following are the elements of a valid donation?

• Capacity of the donor

• Donative intent of the donor (animus donandi)

• Delivery (Traditio)

• D. Acceptance of the donee

• E. All of the above

Which of the following is/are TRUE relating to the elements of donation?

• Unborn children may be a donee in a donation

• Acceptance must be made during the lifetime of the donor and of the donee

• C. Donation is perfected from the moment the donor knows the acceptance of the donee (Cognition Theory)

• D. All of the above

Which of the following is/are TRUE relating to the formalities of donation?

• An oral donation requires the simultaneous delivery of the thing or of the document representing the right donated

• If the value of the personal property donated exceeds P5,000, the donation and the acceptance shall be made in writing

• C. When a donation does not follow the correct formalities, the donation is considered void

• D. Donation of real property or registrable property must be in a public instrument

• E. All of the above

Which of the following is/are TRUE relating to the parlance of donor’s tax?

• No one is compelled to accept the generosity of one party

• The law in force at the time of the perfection/completion of the donation shall govern the imposition of donor's tax

• C. Donor's tax, being a "contract", does not apply unless and until there is a completed gift.

• D. All of the above

Which of the following is/are TRUE relating to the parlance of donor’s tax?

• Donor’s tax is a direct tax

• Donor’s tax is a national tax

• C. Donor’s tax is an excise tax

• D. All of the above

Which of the following is/are TRUE relating to the parlance of donor’s tax?

• Donations made due to past services rendered or consequently, remuneratory donations are not really donations in substance; the cause is not gratuitous, hence, not subject to donor’s tax

• Donor’s tax is imposed on gratuitous transfers only

• C. A sale, exchange or other transfer made in the ordinary course of business is made in adequate and full

  consideration, hence, not subject to donor’s tax (remember this nak, fundamental concept to)

• D. All of the above