Reference no: EM132644574
Question - Pat Thai died leaving the following properties
House and lot in Cagayan de Oro City (mortgaged for 300,000) P1,250,000
Condo unit in China 1,000,000
Car in Philippines 70,000
Car in China 60,000
Franchise exercised in the Philippines 300,000
Franchise exercised in China 25,000
Domestic shares, certificate kept in China 55,000
Foreign shares, 90% of business in the Philippines 60,000
Foreign shares, 35% of business in the Phils, with business situs in Phils. 15,000
Foreign shares, 51% of business in the Philippines 75,000
Required -
1. Calculate the gross estate if the decedent was not a non-resident alien.
2. Calculate the gross estate if the decedent was a non-resident alien (no reciprocity).
3. Calculate the gross estate if the decedent was a non-resident alien (no reciprocity).
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