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WorksheetsDonor's Taxation
Total questions: 16
Worksheet time: 20mins
Which of the following constitutes a taxable gift?
Creditor’s gratuitous discharge of a debtor’s obligation
One day rent free use of another’s property
A gratuitous transfer by an incompetent
An agreement to make a future transfer which is not supported by a consideration
The donation of personal property (movable) may be made orally if the value is ₱5,000 or less requiring simultaneous delivery.
TRUE
FALSE
Which of the following donation is required to be in a public document?
Donation of personal property worth more than ₱5,000
Donation of personal property
Donation of real property
Donations required to be in writing
For a donation to be valid , acceptance should be made ______.
during the life time of the donor only
During the lifetime of the donee only
During the lifetime of the donor and the donee
None of the above
A donation of which the donor’s tax is not paid is valid.
TRUE
FALSE
MAGMAHAL,kasi kahit kailan di mali magmahal
Donation is a transfer of property for a consideration other than money.
True
False
Magmahal
Citizen or residents is subject to donor/s tax regardless of the location of the property donated or where the gift was made.
True
False
Magmahal
Donations of real property amounting to less than ₱5,000 should be in (a) .
Park Shin-hye, a Korea citizen residing in north Korea donated her car in Mindanao to a friend residing in japan. Does the donation is subject to donor tax in the Philippines ?
Yes
No
What do we call the beneficiary of a donation?
(a)
Marites own a megaphone that she use in spreading chismis in their barangay; Marisol borrowed the megaphone and gave to his boyfriend which is a barangay tanod as a gift.
Is it valid donation or not?
Yes
No
Marites own a megaphone that she use in spreading chismis in their barangay; Marisol borrowed the megaphone and gave to his boyfriend which is a barangay tanod as a gift.
What is the requisite missing in the situation to become a valid donation?
Capacity of the donor
Delivery
Acceptance
Intention to donate
IU donated a personal property to his boyfriend in the Philippines on January 15, 2022. When can IU file a donor’s tax return for the her gift.
30 days before January 15,2022
On February 14, 2022 only.
Until February 14, 2022
April 15, 2023
Monkey D. Luffy, a non-resident alien, donated the following to Gol D. Roger during the year.
Car in the Philippines ₱250,000
Ship in Japan ₱2,0000,000
Golden building in Philippines amounting to ₱5,000,0000
How much is the value of gross gift?
(a)
Monkey D. Luffy, a non-resident alien, donated the following to Gol D. Roger during the year.
Car in the Philippines ₱250,000
Ship in Japan ₱2,0000,000
Golden building in Philippines amounting to ₱5,000,0000
How much is the value of net gift?
(a)
Monkey D. Luffy, a non-resident alien, donated the following to Gol D. Roger during the year.
Car in the Philippines ₱250,000
Ship in Japan ₱2,0000,000
Golden building in Philippines amounting to ₱5,000,0000
How much is the total donor’s tax due?
(a)
