Reference no: EM132938783
Question - A made the following donations.
To B, a land worth P450,000 in Cubao, Quezon City
To C, jewelry worth P100,000 in Hongkong.
To D, Jollibee shares amounting to P150,000.
To E, a condo unit in Hongkong, P1,600,000, mortgaged for P50,000 assumed by the donee.
To F, land in Davao, P300,000.
P300,000 cash to G in Hongkong.
He also transferred the following properties:
|
Selling Price
|
FMV
|
Car, Phil.
|
P 200,000
|
P 300,000
|
Car, Hongkong
|
300,000
|
200,000
|
Residential land, Phil.
|
1,000,000
|
2,000,000
|
Required -
1. If he is a nonresident citizen determine his gross gift?
2. If he is a non-resident Japanese, and with reciprocity, determine his gross gift?