A donation is complete when:

Julius transferred a car in favor of his friend, Julio. The car’s value at the time of transfer is P300,000. What is the required formality by law in order for the donation to be valid?

Which of the following is exempt from donor's tax if the donated property is located abroad?

Which of the following is not considered within the Philippines?

X donated to Y a property worth P600,000 on January 2, 2025. How much is the statutory exempt donation ?

S1: Donations between husband and wife during marriage are generally void.

S2: Encumbrances on the property donated, if assumed by the donor, are allowed as deductions against gross gift. (PHILCPA)

(PHILCPA) Reciprocity applies when the donor and the property donated is a

a. Non-resident alien - Tangible

b. Non-resident alien - Intangible

c. Non-resident citizen - Tangible

d. Non-resident citizen Intangible

Jose donated a vacant lot held as capital asset to his brother-in-law. The assessed value and zonal value of the land were P750,000 and P1,000,000 respectively. The land had an unpaid mortgage of P200,000, which was not assumed by the donee and an unpaid realty tax of P10,000 which was assumed by the donee. The donation is subject to

One of the following is not a distinction between donation inter vivos and donation mortis causa

Statement 1: Regardless of the relationship to the donee, donations made by the donor beginning January 1, 2018 shall be subject to 6% donor's tax rate in excess of P250,000.

Statement 2: Donations made by either individual or corporate taxpayers beginning January 2018 shall be subject to 6% donor's tax rate in excess of P250,000 exempt gifts.

Which of the following transactions is deemed a taxable gift?

Which of the following is not a deduction from the gross gifts?

On June 4, 2020, Mr. Momoy donated a car worth P800,000 (at the time of promise) to Mr. Palaboy subject to the condition that Mr. Palaboy must graduate college not later than October 2020. Mr. Palaboy graduated from his course. The property was now worth P700,000 (at the time he graduated). The same was purchased by Mr. In 2019, Momoy at a cost of P1,000,000.

Compute the gratuity subject to donor's tax.

Mrs. Anderson had the following information regarding her inheritance from her deceased husband where she and her three children were the only heirs:

Share from communal properties: P 1,200,000 under general renunciation

Share in the net distributable estate: P300,000 under specific renunciation

Compute the gross gift.

Anjo, a resident citizen, donated P200,000 cash to his second cousin abroad. This was his only donation in 2020. Which is correct?

Which of the following donations made during the lifetime of the donor is subject to donor's tax?

What is the maximum quantitative threshold on administrative purposes for donation to a nonstock-nonprofit organization to be exempted from donor's tax?

What is the donor's tax rate for taxable donation made by an individual to his or her relative under the TRAIN LAW?

Debts attached to properties donated are deductible from gross gift if:

A, B, C, D, and E are the legal heirs of Z. If A renounces her share in favor of B and C, then:

The donor's tax return must be filed, and the donor's tax must be paid:

All of the following donations are valid, except:

Ms. Mimi owns the following properties:

i. A car located in the New York, United States, P2,000,000

ii. A tricycle located in New York, Cubao, P200,000

iii. Jollibee franchise exercisable in the Philippines, P1,000,000

iv. Shares issued by San Miguel Corporation, a domestic corporation, P355,000

v. Shares issued by Budweiser Corporation, a foreign corporation, 90% of the business of which is located in the Philippines, P482,000

vi. Shares issued by Carlsberg Corporation, a foreign corporation, 60% of the business of which is located in the Philippines, P335,000

vii. Shares issued by Guinness Corporation, a foreign corporation, 30% of the business of which is located in the Philippines, P603,000

How much is the gross gift if the taxpayer is a non-resident alien?

Mr. JCD had the following donated to his wife:

• - a real property with zonal value of 9,000,000 and assessed value of P9,500,000.

• - A used jewelry. At the time of purchase, the jewelry was worth P3,000,000. At the time of donation, the jewelry was worth P2,000,000.

• - 3,000 preference shares with a par value of P15 per share, a book value of P33, and a liquidation value of P24

• - 4,000 ordinary shares with a par value of P10 per share and a market value of P12.50

Compute the donor's tax.

Mr. Alfonso donated a brewery with a value of P24M to Mr. Ginebra. Mr. Ginebra assumed the mortgage on the property valuing P18M. Compute the donor's tax.

Donations of properties to joint donees are treated as

S1: Donations of real property are now subject to the DST of P15 for each P1,000 of the fair market value of the real property donated under the TRAIN Law.

S2: Any person making a donation (whether direct or indirect) unless the donation is specifically exempt under the NIRC or other special laws, is required, for every donation, to accomplish under oath a donor’s tax return (BIR Form No. 1801).

Transfers for insufficient consideration are generally subject to trasfer tax, except:

A revocable donation is subject to estate tax as part of the gross estate of the donor if: