donor's tax

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DONORS TAX: THEORY
1. For the donation to be considered valid, acceptance of the donation must be made.
a. during the lifetime of the donor only.
b. during the lifetime of the donee only
c. during the lifetime of the donor and the donee
d. none of the choices
2. First statement: Donors tax shall be levied, assessed collected and paid upon the transfer of property by any person , resident or non-
resident as a gift.
Second statement: For the purpose of donor’s tax, a stranger is a person ho is not a relative by consanguinity in the collateral line ithin
the fifth degree of relationship.
a. !rue, !rue
b. False, False
c. True False
d. False !rue
". #ne of the folloing donees ill not entitle the donor-parent to a $1%,%%% dory exemption.
a. &egitimate 'hild
b. (ecogni)e *atural 'hild
c. +dopted 'hild
d. Ste!child
,. -hich of the folloing statement is incorrect.
a. + separate return shall be filed by each donor for each gift or donation made on different dates during the year reflecting therein any
previous net gift made in the same calendar year.
b. #nly one return shall be filed for several gift or donations by a donor to the different donees on the same date.
c. "hen a donors ta# return $as filed and it $as found out %& the '(R to ha)e errors $hich ga)e rise to a deficienc& donors ta#
the donor cannot %e re*uired to !a& the deficienc&.
d. !he government is not legally bound by the agreement beteen the donor and the donee that the later shall pay the donors tax instead
of the former.
/. First statement: 0n all cases, void donations are not sub1ect to donors tax.
Second statement: 2very donation beteen the spouses during the marriage shall be void.
a. both statements are true
b. both statements are false
c. First statement is true $hile second statement is false
d. First statement is false hile the second statement is true
3. 4r. 5ohn 6amuelson, resident alien, donated a piece of 1eelry to his son ho got married on 5anuary 1/, 2%%7. !he piece of 1eelry as
mailed to his son on 5anuary 1%, 2%%7 and as accepted on 5anuary 2%, 2%%7. -hen is the last day to file the donors tax return.
a. February 7, 2%%7
b. February 1,, 2%%7
c. Fe%ruar& +, -..,
d. 4arch 2%, 2%%7
8. -hen a property is donated in contemplation of death the basis of the tax shall be:
a. Fair mar9et value at the time of death
b. Fair mar9et value in the hands of the donor before the time of donation
c. Fair mar/et )alue at the time of death of the donor
d. 'ost hen the property as ac:uired
;. -hich of the folloing is a stranger for donor’s tax purposed.
a. + child born out of edloc9 of parents ho are legally impeded to marry each other at the time the child is being conceived.
%. The son of the donor0s first cousin
c. !he donor’s grandmother
d. !he donor’s spous
7. -hen the donee is a stranger the tax payable is:
a. "%< of the gross gifts
%. 1.2 of the net gifts
c. based on the graduated tax rates
d. based on the graduated tax rates or "%< of gross gifts hichever is higher
1%. First statement: + donation on hich the donor’s tax is net paid is a valid donation
6econd statement: !itle to a tax =exempt donation of a real property cannot be transferred to the donee in the (egister of Deeds unless the
donor’s tax on the donation had been paid
a. !rue, !rue
b. False, False
c. True False
d. False, !rue
11. !he donation of personal >movable? property may be made:
0. #rally of the value is $/,%%% or less re:uiring simultaneous delivery.
00. 0n -riting if the value is more than $ /,%%%
a. 'oth ( and (( are correct
b. @oth 0 and 00 are incorrect
c. #nly 0 is correct
d. #nly 00 is correct
12. !he donation of movable property may be made:
a. #rally
b. -riting
c. Either A or '
d. *either + or @
1". Asing the preceding number, the donation and acceptance should be in riting if the value of the property donated is:
a. &ess than $ /,%%%
b. $/,%%% or less
c. $/,%%% or more
d. 3ore than 4...
1,. !he donation of an immovable property shall be made
a. 0n riting
%. (n !u%lic instruments
c. 2ither + or @
d. #rally
1/. Asing the preceding number, acceptance by the donee may be made:
a. (n same deed of donation
b. 0n a separate document
c. 2ither + or @
d. *either + or @
13. +. For the purpose of donor’s tax, second degree cousins are strangers to each other.
@. 2ncumbrance of the property donated, if assumed by the donor is deductible for the donors tax purposes.
a. !rue, !rue
%. True False
c. False, !rue
d. False, False
18. +. +s a rule, donation beteen husband and ife during marriage is void
@. Donation can be made to conceived or unborn children
a. True True
b. !rue, False
c. False, !rue
d. False, False
1;. + donation hich ta9es upon the death of the donor
a. Donation mortis causa
b. $arta9es of the nature of a testamentary disposition
c. 6hall be governed by the la on succession
d. A ' and 5
17. + donation hich is intended by the donor to ta9e effect during his lifetime
a. 6hall be sub1ect to donor’s tax using the tax table for donation
b. 6hall be in riting if the value exceeds $ /,%%%
c. Donation inter )i)os
d. +, @ and '
2%. +. gift is perfected from the moment the donor effects the delivery either actual or constructively of the property donated.
@. Donors tax is a property tax imposed on the property transferred by ay of gift inter-vivos
a. !rue, !rue b. !rue, False c. False, !rue d. False False
'6S(NESS 7A" 8 TAXAT(ON
EASY RO6ND
1. -hich of the folloing individuals shall not be sub1ect to the income tax under 6ection 2, >+?.
D a. 0ndividual citi)en of the $hilippines residing thereinB
b. 0ndividual citi)en of the $hilippines ho residing outside the $hilippines including overseas contract or9ersB
c. 0ndividual alien ho is a resident of the $hilippinesB
d. 0ndividual alien ho is not a resident of the $hilippines.
2. -hich of the folloing income is not from a related trade, business or activity of a domestic proprietary educational institution.
+ a. 0ncome from rent of available office spaces in one of the school buildings
b. 0ncome from the hospital here medical graduates are trained for residency
c. 0ncome from the canteen situated ithin the school campus
d. 0ncome from boo9store situated ithin the school campus
". Co much is the annual community tax for individuals.
D a. $ 2/ c. $ 1%
b. $ 2% d. $ /
,. Ander this system there is a merger of all the properties of the husband and the ife oned by them at the time of the celebration of the
marriage, or those ac:uired thereafter.
@ a. 'on1ugal partnership of gains
b. +bsolute community of properties
c. 'omplete separation of properties
d. *one of the choices
/. -hich is not an essential characteristic of tax.
+ a. &imited as to amount
b. $roportionate in character
c. $ayable in money
d. (egular payment
3. + contract of sale is not a
D a. $rincipal contract c. 'onsensual contract
b. *ominate contract d. (eal contract
8. D0 promise to pay $ or his order the sum of $ 1%,%%%.%% "% days after the death of E.F !his is an instrument payable:
+ a. +t a determinable future time
b. #n Demand
c. Apon the fulfillment of a condition
d. +t an indefinite time, hence, non-negotiable
;. + corporation ac:uires 1uridical personality
' a. Apon the filing of the articles of incorporation
b. Apon the filing of the by-las
c. Apon the issuance of the certificate of incorporation
d. -ithin "% days from receipt of notice of the issuance of the certificate of incorporation
7. 0t is the right of the mortgagor to redeem the property that as mortgaged after it as sold.
@ a. 2:uity of redemption c. (ight of subrogation
b. (ight of redemption d. (ight of pre-emption
1%. + ith violence in her eyes intimidated her husband @ to sell his exclusive property to her. !he contract of sale is
@ (escissible Anenforceable
Goidable Goid
A9ERA:E RO6ND
1. -hich of the above ill be sub1ect to a 2/< civil penalty of the tax or of the deficiency tax.
D a. -illful neglect to file the return ithin the period prescribed by the !ax 'ode or rules and regulations
b. + false or fraudulent return is illfully made
c. + person ho is not G+!-registered issues an invoice or receipt shoing his !0*, folloed by the ord HG+!H
d. Failure to file any return and pay the tax due thereon as re:uired under the provisions of the !ax 'ode or rules
and regulations on the date prescribed
2. -hich of the folloing statements is 0*'#((2'!.
D a. !he amount of Dde minimisF benefits conforming to the ceiling prescribed in the !ax 'ode shall not be
considered in determining the $"%,%%% ceiling of Dother benefitsF included in the exempt 1"th month and other
benefitsB
b. 0f the employer pays more than the ceiling prescribed for Dde minimisF benefits, the excess shall be taxable to the
employee receiving the benefits only if such excess is beyond the $"%,%%% ceiling.
c. +ny amount given by the employer as benefits to its employees, hether classified as de minimis or fringe
benefits, shall constitute as deduction upon such employerB
d. (epresentation and transportation alloance hich are fixed in amounts and regularly received by the employees
as part of their monthly compensation shall be treated as taxable fringe benefits if received by managerial and
supervisory employees.
". 5ose 5osue :ualified as head of a household for 2%%8 tax purposes. 4r. 5osue’s 2%%; gross income as $2%%,%%% inclusive of $1%,%%%
short term capital gain. 4r. 5osue had a long-term loss of $;,%%% in 2%%;. -hat amount of this capital loss could 4r. 5osue deduct in 2%%;.
' a. Iero c. $,,%%%
b. $",%%% d. $;,%%%
,. $enalties andJor interest imposed on the taxpayer may be abated or cancelled on the ground that the imposition thereof is un1ust and
excessive, except hen:
+ a. !he taxpayer is declared insolvent or ban9rupt.
b. !he filing of the return or payment of the tax is made at the rong venue.
c. !he taxpayer’s mista9e in payment of his tax is due to erroneous ritten official advice of a revenue officer.
d. !he assessment is brought about or a result of the taxpayer’s non-compliance ith the la due to a difficult
interpretation of the said la.
/. !he actual residential home of the decedent and his family at the time of his death, as certified by the @arangay 'aptain of the locality
here the family home is situated, has a fair mar9et value of $",%%%,%%%. !he family home is part of the common property of the spouses.
Co much is the family home deduction.
@ a. $1,/%%,%%% c. $8/%,%%%
b. $1,%%%,%%% d. $/%%,%%%
3. + negotiable instrument that is not dated ill be considered dated as at the time of
D a. +cceptance c. &ast endorsement
b. First endorsement d. 0ssuance
8. + delin:uent stoc9holder is not entitled to the folloing rights, except the right:
' a. !o be voted
b. !o vote or be represented in the meetings of stoc9holders
c. !o dividends
d. Ce is not entitled to all the rights of a stoc9holder
;. !hree of the folloing partnership contracts are void. -hich one is not.
' a. + universal partnership of present property beteen husband and ife
b. + universal partnership of profits beteen a man and a oman living together as husband and ife ithout the
benefit of marriage
c. + particular partnership beteen husband and ife
d. + universal partnership beteen a private individual and a public officer
7. !he folloing are modes of extinguishing an agency, except:
D a. Death, civil interdiction, insanity or insolvency of the principal or agent
b. +ccomplishment of the purpose of the agency
c. 2xpiration of the period for hich the agency as constituted
d. 'ontinued losses on the part of the principal or agent
1%. !hree of the folloing instances ill render an offer ineffective before acceptance is conveyed. -hich one ill not.
D a. 'ivil interdiction of either party c. 0nsanity of either party
b. 0nsolvency of either party d. 0ntoxication of either party
D(FF(567T RO6ND
1. !he taxpayerKs 2%%" percentage tax return is re:uired to be filed through the authori)ed agent ban9 under the 1urisdiction of (D# 2ast
4a9ati. -ithout prior authori)ation from the 'ommissioner, the taxpayer files the return and pays the tax through an authori)ed agent
ban9 under the 1urisdiction of (D# Davao 'ity on 5une "%, 2%%,. !he tax due per return is $1%%,%%%.
Co much is the total amount due on 5une "%, 2%%,
+ a. $ 1/,,1//.2/ c. $ 2/,%%%.%%
b. $ 127,1//.2/ d. *one of the choices
2. -hich of the folloing shall not be sub1ect to income tax.
+ll the three >"? ere not :ualified to retire under the @0(-approved pension plan of the corporation.
D a. 0, 00 and 000 c. 0 only
b. 0 +*D 00 d. 00 +*D 000 #*&L
". !his refers to the control number issued by authori)ed agent ban9 >++@? to the taxpayer and @0( to ac9noledge that the taxpayerKs
account has been successfully debited electronically in payment of his tax liability.
' a. Filing (eference *umber
b. +c9noledgment *umber
c. 'onfirmation *umber
d. !axpayerKs 0nformation *umber
,. + taxpayer paid excessive tax on +pril 1/, 2%%%. #n December 2%, 2%%1, she filed a ritten claim for refund. Cer claim as denied by the
@0( and she received the denial on 4arch 1/, 2%%2. 6he filed a motion for reconsideration ith the @0( on 4arch "1, 2%%2. #n +pril 1%,
2%%2, she received the final denial of the @0(. -hat ill be the taxpayer’s remedy.
' a. File another motion for reconsideration ith the @0( ithin "% days after the receipt of the final denial
b. File an appeal ith the 'ourt of !ax +ppeals on or before 4ay 1%, 2%%2
0- $edro (eyes, an official of 'orporation E, as9ed for an Dearly retirementF because he as emigrating to
+ustralia. Ce as paid $2,%%%,%%% as a separation pay in recognition of his valuable services to the
corporation.
00- 5uan 'ru), another official of the same company as separated for occupying a redundant position. Ce as
given $/%%,%%% as separation pay.
000- 5ose @autista as separated due to his failing eyesight. Ce as given $/%%,%%% as separation pay.
c. File an appeal ith the 'ourt of !ax +ppeals on or before +pril 1/, 2%%2
d. !he taxpayer has no more remedy against the final denial
/. + G+! sub1ect real estate dealer sold a residential lot on 5anuary 1/, 2%%8. !he folloing information as made available on the terms of
the sale:
Mross selling price $ ",%%%,%%%
0nitial payments on 5anuary 1/, 2%%8 8/%,%%%
@alance to be paid in e:ual installment,
installments starting February 1/, 2%%8 2,2/%,%%%
!he )onal value of the residual lot as $",/%%,%%%.
Co much as the output tax on 5anuary 1/, 2%%8 using 12< G+! rate.
' a. $ ,2%,%%% c. $ 1%/,%%%
b. $ "3%,%%% d. *one of the choices
3. $ayment made to a third person is valid to extinguish the obligation of the debtor to the creditor in the folloing cases, except:
+ +fter payment to the creditor, the third person ac:uires the creditor’s right.
-hen the creditor ratifies the payment to the third person.
-hen through the creditor’s conduct, the debtor as led to believe that the third person had authority to receive
payment.
-hen the third person is subrogated to the rights of the creditor.
8. *, ( and 5 solidarily bound themselves to deliver to 6 a Conda motorcycle valued at $ 3%,%%%. !he obligation as not fulfilled through the
fault of 5. !hereupon, 6 filed an action in court against * and the court aarded $ 82,%%% to 6 representing the value of the motorcycle plus
damages. -hich of the folloing situation is valid.
D 0f * pays 6 the $ 82,%%%, * can collect ( and 5 $ 2,,%%% each
6 has to collect $ 2,,%%% each from *, ( and 5 to satisfy the court’s aard of $ 82,%%%
* can refuse to pay the penalty because it should be charged against 5, the guilty party
0f 6 succeeds in collecting the $ 82,%%% from *, * in turn can collect from ( $ 2%,%%% and from 5 $ "2,%%%
;. $ authori)ed +, a minor, to sell his car for $ 1,%%%,%%% in cash. + sold the said car to E on installment at a lesser price of $ 7%%,%%%. $ is
no repudiating the contact ith E on the ground that he is not bound to since E contracted ith a minor ho exceeded his authority.
Decide.
+ $ is liable under the contract because it is enough that the principal is capacitated since he is the one entering
into the contract.
$ is not liable for the sale on installments since it is unenforceable because his agent acted beyond his poers.
$ is not liable because the agent is a minor ith hom E contracted
$ is liable provided the sale is in cash for $ 1,%%%,%%%.
7. + gets a loan of $ 1,%%%,%%% from @ hich becomes due on #ctober 1, 2%%; and mortgaged his house as security for the debt. #n 5une "%,
2%%;, the mortgaged house completely destroyed the fire through the fault of '. + ee9 later, @ demanded payment from +. 0s @’s demand
valid.
' *o, the destruction of the house as not thru the fault of +.
*o, the obligation is one ith a definite period hich is deemed intended for the benefit of both the debtor and
creditor
Les, the debt becomes demandable unless + can give another security e:ually satisfactory
Les, the debt becomes demandable even if + can give another security e:ually satisfactory
1%. #ne of the folloing characteristics of dacion en pago is also a characteristic of a contract of sale. -hich is it.
D a. !here is a pre-existing credit
b. #bligations are extinguished
c. !here is less freedom in fixing the price
d. #nership of the ob1ect transferred to the other party
T(E;'REA<ER =6EST(ONS
1. +n obligation here various prestations are due but the performance of all of them is re:uired in order to extinguish the obligation is
9non as:
' a. +lternative obligation c. 'on1unctive obligation
b. Facultative obligation d. 6imple obligation
2. 0t is an affirmation of fact or any promise by the seller relating to the thing hich has a natural tendency to induce the buyer to purchase the
same, relying on such promise or affirmation.
' a. 'ondition c. -arranty
b. False representation d. 6eller’s tal9
". -hich of the folloing contacts is rescissible.
' a. 'ontracts entered into during a hypnotic spell
b. 'ontracts entered into in a state of drun9enness
c. 'ontracts entered into to defraud creditors hen the latter cannot collect the claims due them
d. 'ontracts here both parties are incapable of giving consent
,. -hich among the folloing contracts is void.
D a. + contract of barter beteen 6, insane, and @, 18 years old
b. + contract of sale here @, the buyer, tisted the arm of 6, the seller, so that 6 ould sign the deed of sale
c. + contract of sale here @, the buyer, aimed a gun at the ife of 6, so that 6 ould sign the deed of sale
d. + contract for the sale of a co hich is suffering from a contagious disease
/. -ho among the folloing is the holder of a negotiable instrument originally payable to order.
@ a. !he original payee ho has negotiated the instrument
b. !he endorsee ho is in possession of the instrument
c. !he possessor of the instrument to hom the instrument as delivered ithout any endorsement
d. !he endorsee ho has negotiated the instrument
3. +n instrument payable to bearer may be negotiated through any of the folloing means, except:
D a. 6pecial endorsement plus delivery
b. 4ere delivery
c. @lan9 endorsement plus delivery
d. *o delivery is re:uired as long as there is an endorsement, hether blan9 or special
8. #ne of the folloing is not a characteristic of contract of partnership.
+ a. (eal, in that the partners must deliver their contributions in order for the partnership contract to be perfected
b. $rincipal, because it can stand by itself
c. $reparatory, because it a means by hich other contracts ill be entered into
d. #nerous, because the parties contribute money, property, industry to the common fund
;. (ecording in the (egistry of $roperty in the appropriate boo9 is re:uired for the validity of the contract of:
+ a. 'hattel mortgage c. 'onventional pledge
b. (eal mortgage d. +ntichresis
7. +, @, ' and D, 1oint debtors, are obliged to give G, -, E, L and I, solidary creditors, $ 2%,%%%.%%
' a. G may collect from @ $ 2%,%%% c. G may collect from @ $ /,%%%
b. G may collect from @ $ ,,%%% d. G may collect from @ $ 1,%%%
1%. !he folloing are modes of extinguishing an agency, except:
D a. Death, civil interdiction, insanity or insolvency of the principal or agent
b. +ccomplishment of the purpose of the agency
c. 2xpiration of the period for hich the agency as constituted
d. 'ontinued losses on the part of the principal or agent

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