Reference no: EM132957406

Questions -

Q1. Antonio had a net gift of P 450,000 to his first cousin. What is the donor's tax?

a. 8,000

b. 18,000

c. 12,000

d. 27,000

Q2. Ms. Dina Nalo believes in the chances of Mrs. May Laban for the congressional seat in their district. She donated P 400,000 in cash for the latter's campaign expenses. Ms. Dina Nalo reported the donation to the COMELEC. Which is correct?

a. Ms. Dina Nalo shall pay P 120,000 donor's tax

b. Ms. Dina Nalo is exempt from donor's tax on the first P 100,000 of the net gift

c. The donation is exempt from donor's tax

d. None of these

Q3. Jose donated a lot worth P 400,000 to his second cousin subject to the condition that his cousin assume the P 40,000 accrued real property tax on the lot. What is the donor's tax?

a. 24,000

b. 21,600

c. 9,000

d. 6,600

Q4. In 2019, Andy made a total donation of P 350,000, inclusive of P 80,000 donations to the government for public purposes. Compute the total donor's tax due.

a. P 1,200

b. P 6,000

c. P 21,800

d. P 21,000