How much is the total fair market value of real estate

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Reference no: EM132869081

Question - Mr. Z died leaving the following properties with the fair market values at the time of death:

Piece of land in the Philippines P2,000,000

Piece of land in Indonesia 1,000,000

Furniture and Fixtures in his house in the Philippines 600,000

Car in Indonesia 800,000

Share of stock of a Philippine corporation deposited in a deposit box of a bank in the Philippines 500,000

Share of stock of a Philippine corporation deposited in a deposited box of a bank in Indonesia 200,000

Share of stock of foreign corporation (subject of several transactions in the Philippines) 100,000

How much is the total fair market value of real estate, tangible personal properties and intangible personal properties to be included in the gross estate taxable in the Philippines:

1: If the decedent at the time of death was a citizen and resident of the Philippines?

2: If the decedent at the time of death was a subject of Indonesia residing in Indonesia?

Reference no: EM132869081

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