transfer-business-taxation-tabag-garcia-3rd-edition.pdf

Transfer & Business Taxation (Tabag & Garcia) 3rd Edition

Etnolinguistica (Bicol University)

SOLUTIONS MANUAL

TRANSFER & BUSINESS TAXATION, 3 rd Editon By: TABAG & GARCIA

CHAPTER 1  SUCCESSION & TRANSFER TAXES TRUE OR FALSE 1. T 2. T 3. T 4. T 5. F MULTIPLE CHOICE 1. D 2. A 3. D 4. C 5. C 6. A 7. B 8. A 9. B 10. A 11. D

6. 7. 8. 9. 10.

T F T T T

11. 12. 13. 14. 15.

T T T T F

12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22.

C C B D C B D C B B B

23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33.

D B D D B D A D B A D

34. 35. 36. 37. 38. 39. 40. 41. 42. 43. 44.

D B B D B D D B D B B

45. 46. 47. 48. 49. 50. 51. 52. 53. 54. 55.

B C D D A B A D D D B

61. 62. 63. 64. 65. 66. 67. 68. 69. 70.

A A A C D B A C C D

CHAPTER 2 – GROSS ESTATE TRUE OR FALSE – SET A 1. T 6. 2. T 7. 3. F 8. 4. T 9. 5. T 10. TRUE OR FALSE – SET B 1. T 6. 2. F 7. 3. F 8. 4. T 9. 5. T 10. MULTIPLE CHOICE 1. A 16. 2. B 17. 3. D 18. 4. B 19. 5. C 20. 6. C 21. 7. A 22. 8. B 23. 9. A 24. 10. A 25. 11. C 26. 12. B 27.

1!

T T T T T

11. 12. 13. 14. 15.

T F F T T

16. 17. 18. 19. 20.

F T T T T

F T T T F

11. 12. 13. 14. 15.

T F F T F

16. 17. 18. 19. 20.

T T T F T

D C B D A D A B A C C C

31. 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. 42.

C B B A B B D C B D C C

46. 47. 48. 49. 50. 51. 52. 53. 54. 55. 56. 57.

C D C C C D D C C C B D

T r a n s f e r & B u s i n e s s Ta x a t i o n ( 3 r d E d i t i o n ) b y T a b a g a n d G a r c i a

Distributing prohibited | Downloaded by The Nica ([email protected])

13. 14. 15.

D A C

28. 29. 30.

D B D

43. 44. 45.

B C B

58. 59. 60.

C C A

Supportg Compuatos:

23. Ba! "#$%&'( i he foreig brach % brach %)) a "%*#&+, -a! Ba! "#$%&'( i Makat brach % brach %)) a )%/#' -a! Sa/#& %) &(%,! '&&#" - a "%*#&+, ,%/$%/a+%

P500000 300000 1000000

,#/+,a(# !#$( ' Caa"a F/a,'&# ##/,'&#" ' Ma'a R#,#'a-# "#-(%/ )/%* M'"aa% To"#$ E%$'(ion )ro* "+ -ro(( ("#"

800000 200000 P.,/00,000

H%&# a" %( )a*' %*# ' :#;% C'( Ba! "#$%&'( i Makat brach % brach %)) a )%/#' -a! Sa/#& %) &(%,! '&&#" - a "%*#&+, ,%/$%/a+%

P1500000 300000 1000000

,#/+,a(# !#$( ' Caa"a F/a,'&# ##/,'&#" ' Ma'a R#,#'a-# "#-(%/ )/%* M'"aa% To"#$ In$'(ion )ro* "+ -ro(( ("#"

800000 200000 P3,/00,000

23.

25. Sa/#& %) &(%,!& "%*#&+, ,%/$.

P250000

,#/+,a(# !#$( ' U< Sa/#& %) &(%,!& "%*#&+, ,%/$.

100000

,#/+,a(# !#$( ' P'&. F/a,'&# ##/,'&#" ' (# P'&. R#,#'a-#& "#-(%/ '& )/%* P'&. In"#n-i$( ('2" "o riroi"y

200000 50000 P400,000

26. La" = -'"' P''$$'#& H%&# a" %( P''$$'#& Sa/#& %) &(%,!& "%*#&+, ,%/$. ,#/+,a(# !#$( ' U< Sa Sa/#& %) &(%,!& %,!& "%*# "%*#&&+, ,%/$. %/$. ,#/ ,#/+ +,,a(# a(# !#$( #$( ' P' P'&. &. F/a,'&# ##/,'&#" ' (# P'&. R#,#'a-#& "#-(%/ '& )/%* P'&. Gro(( E("#"

335

P12M>100000  1000 &a/#& ? P120000

365

P10M>100000  1000 &a/#& ? P100000

375

P110  1000 &a/#& ? P120000

345

P140 @ P80>2  1000 &a/#& ? P110000

P2000000 3500000 250000 10000 0000 0 200000 50000 P4,100,000

44. C%&'"#/a+% La" Sa/#& %) &(%,! '(a# ,a/ Pa'+

2!

/#,#'#" P1500000 100000 50000 250000

FM $% (/a&)#/ P1500000 50000 80000 400000

FM $% "#a( P2000000 150000 100000 500000

G/%&& E&(a(# %#. a'" &a# %#. a'" &a# P50000 250000



INCLUSION IN THE GROSS ESTATE 665

P300,000

B##&(& (% ,a/'(a-# '&+(+%& a/# ,%&'"#/#" #,&'%& )/%* (# /%&& #&(a(# % ') (#

$/%-#* ,#a/ &(a(#& (a( %( *%/# (a 30 #/# &#" )%/ a"*''&(/a+# a"*''&(/a+# $/$%&#&.

PROBLEM SOL8ING: PROLEM 1

1 P19300000

2 P19300000

3 P11800000

4 P14300000 C'+;#>

RA '( R

RA >% R

R#&'"#(

9 1 & .; P8000000 5000000 3000000 2000000

Fa*' %*# ' (# P''$$'#& Pa/,# a" %) '( a,a+% %&# ' Maa&'a Fa/* a" ' (# P''$$'#& Sa/#& %) &(%,! %) a "%*#&+, ,%/$%/a+% "#$%&'(#" ' a -a! &a)#( "#$%&'( -% ' Maa&'a Sa/#& %) &(%,! %) a )%/#' ,%/$%/a+% ,%/$%/a+% "+ ntr '(in((

9 3; P8000000

9 6; P8000000

3000000

3000000 2000000

500000

500000

o) <+i+ i( in "+ P+i$iin( "#$%&'(#" ' a -a! &a)#( "#$%&'( -% ' Maa&'a R#,#'a-# )/%* a )/'#" % a& % $/%$#/( a(&%##/ R#,#'a-#& "#/ '&/a,# $%','#& L')# '&/a,# $%', (a!# - (# "#,#"#( % '&  % ')# '( '& #&(a(# a& /#%,a-# -##,'a/ L')# '&/a,# $%', (a!# - (# "#,#"#( '(  '& "a(#/ a& /#%,a-# -##,'a/ L')# '&/a,# $%', (a!# - (# "#,#"#( % '&  % ')# '( '& &% a& '//#%,a-# -##,'a/ L')# '&/a,# /%$ (a!# - (# #*$%#/ %)  (# "#,#"#( '( (# #&(a(# a& /#%,a-# -##,'a/ P/%$#/( '&/a,# )%/ a %&& %) $/%$#/(  A,,'"#( '&/a,# )%/ '/ &&(a'#"  TOTAL GROSS ESTATE

300000

300000

300000

200000

200000

200000

300000

300000

300000













50000 50000 P1=,300,000

50000 50000 P11,/00,000

50000 50000 P16,300,000

PROBLEM 2 T% a T% P#"/% T% Ma/'a T% S'&a To"#$ Gro(( E("#"

P25000000 18000000 15000000 20000000 P>/,000,000

PROLEM 3

3!

1.

P2300000

2.

P1 P1100000

3.

P0

4.

P5 P5000000

5.

P1000 P100000 000 0 @ J1M  1M 1M  10  1.5 1.5KK ? P1150 P115000 000 0



MO?IFIE? I?ENTIFICATION EXERCISE A 1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

I,"#" I,"#" E,"#" I,"#" E,"#" E,"#" I,"#"  E,"#" E,"#" E,"#"

11. 12. 13. 14. 15. 16. 17. 18. 19. 20.

I,"#" E,"#" E,"#" I,"#" I,"#" I,"#" E,"#" E,"#" E,"#" I,"#"

I,"#" ' (# /%&& #&(a(# ') (# -##,'a/ '& (# #&(a(# a"*''&(/a(%/ %/ ##,(%/ ##,(%/.. I ,a&# %) "%-( (# '(#* &%" -# (aa-#. E,&'%& )/%* (# /%&& #&(a(#. #&(a(#. %#(##&& (# (a ,%"# /#'/#& /#'/#& (#&# '(#*& (% -# ',"#" /&( ' (# /%&& #&(a(# -#)%/# "#",+ (# &a*# )/%* (# /%&& #&(a(#.  B##&(& (% ,a/'(a-# '&+(+%& a/# ,%&'"#/#" #,&'%& )/%* (# /%&& #&(a(# % ') (# $/%-#* ,#a/ &(a(#& (a( %( *%/# (a 30 #/# &#" )%/ a"*''&(/a+# $/$%&#&. EXERCISE B

EXERCISE C 1.

P0 a a'" &a &a# #

1.

2.

P0 a a'" &a &a# #

2.

P20M

3.

P0 a a'" &a &a# #

3.

P5M

4.

P4000000

4.

P10M

5.

P6000000

5.

P0

P10M

CHAPTER 3  ?E?UCTIONS FROM THE GROSS ESTATE TRUE OR FALSE 1. T 2. T 3. T 4. T 5. T 6. F MULTIPLE CHOICE 1. C 2. D 3. D 4. C 5. C 6. B 7. B 8. D 9. C

4!

7. 8. 9. 10. 11. 12.

T T T F F F

13. 14. 15. 16. 17. 18.

F F T F T T

19. 20. 21. 22. 23. 24.

T T T F T T

25. 26. 27. 28. 29. 30.

T T F T F T

12. 13. 14. 15. 16. 17. 18. 19. 20.

C B A A A D D D D

23. 24. 25. 26. 27. 28. 29. 30. 31.

A A A B B B C A C

34. 35. 36. 37. 38. 39. 40. 41. 42.

C A C B B C D A D

45. 46. 47. 48. 49. 50. 51. 52. 53.

C B A A C C A A A



10. A 21. C 11. B 22. D Supportg Compuatos:

32. 33.

D C

43. 44.

D D

54. 55.

B D

>5 M%/' ,%(' %) (# "#,#"#(N& &/'' &$%&# M%/' , ,%(' %) %) ( (# "# "#,#"#(N& "# "#$#"#( , ,'"/# E$#&#& %) (# a!# $/#,#"' (# -/'a P-',a+% ,a/#& )%/ "#a( %+,#& T##,%**',a+% #$#&#& ',//#" ' ')%/*' /#a+#&

P1500 3200 40000 5000 3000

%) (# "#,#a&#" C%&( %) -/'a $%( I(#/*#( )##& a" ,a/#& E$#&#& E$#&#& )%/ (# $#/)%/*a,# $#/)%/*a,# %) (# /'(#& = ,#/#*%'# ,#/#*%'#&&

20000 12000 5000

','"#( (% '(#/*#( A,(a F#/a E$#&#& L'*'( 5 %) G/%&& E&(a(# P2M  5 ALLO@E? 9Lo<r A*o'n";

P89700 P100000 P/=,>00

175 R#a $/%$#/( (a )%/ (# #a/ 2013 %(a/';#" '(#/#&( -#a/' $/%*'&&%/ %(# A,,/#" '(#/#&( % (# $/%*'&&%/ %(# a( (# +*# %)

P100000 100000 20000

"#a( I,%*# (a "# )%/ 2013 A$$o<#$ dd'ton( D'&/#a/" D'&/#a/" &(a"a/" "#",+%

200000 P6.0,000

.3. I,%*# (a )/%* $/a,+,# %) $/%)#&&'%  2013 I,%*# (a )/ )/%* $/ $/a,+ a,+,# %) $/%)#&&'% )%/ a.# 1 13 R#a $/%$#/( (a#& )%/ 2013 ?d't$ "#%(

P300000 100000 150000 P770,000

375

ERRATUM: P#"/% "'#" #a' a ,a/ a,'/#" - $/,a&# )/%* P#"/% UA 41. a# (% (a!#>I'+a Ba&'& M%/(a# $a'" I'+a -a&'& 2" D#",+%

P900000 50000 850000

850>1000  P100000 F'a Ba&'& X 8#ni(+in- r#" 8ANISHING ?E?UCTION

85000 P765000 60 P304,000

** Morgage P!"#""" $ !"#"""

765 Sa/#& "%*#&+, ,%/$%/a+% Ta'-# $#/&%a $/%$#/( G/%&& E&(a(#

5!

P500000 1500000 2000000



ELIT 500000  2000>2500 Taa-# E&(a(# TA DUE s P! P!""#""" I e%cess of P!""#""" & '#""#"" % () E("#" T#% ?'

400000 P1600000

G/%&& E& E&(a(# T Ta'-# $/ $/%$#/( P P'&. ELIT 1200000  6000>10000000 T#%#$ E("#"

P6000000 720000 P7,./0,000

P!#""" ((#""" P103,000

55.

PROBLEM SOL8ING Pro$* 1 Ca&# A P150000 Ca&# B P200000 Ca&# C P150000 Ca&# D P150000 Ca&# E P0

Pro$* . ASSUME GROSS ESTATE OF P.,000,000 E*-a*' ,a/#& P15000 B/'a a$$a/# %) (# "#,#"#( 3500 C%&( %) ,%Q 125000 M%/' a$$a/# %) (# &/'' &$%&# "/' (# -/'a 5000 M%/' a$$a/# %) (# *'%/ ,'" 2000 Sa,!& a" "/'!& "/' (# a!# 12500 H%%/a/'a %) $/'#&( )%/ "a' *a&&#& -#)%/# -/'a 2000 T##,%**',a+% ,a/#& (% ')%/* /#a+#& 1000 Ca/#& )%/ "#a( %+,# $-'&#" ' a #&$a$#/ 8000 C%&( %) '"#% )%%(a# %) (# -/'a a" '(#/*#( 12000 F#/a ,a/ &#/',# "/' '(#/*#( 4000 H%% H%%/a /a/' /'* * %) %) $/'# $/'#&( &( % % ,## ,##-/ -/a( a(#" #" (# (# *a& *a&&& "/' "/'  '( '(#/ #/*# *#( ( 200 2000 0 C%&( %) (%*-&(%# 30000 P232000 ACTUAL FUNERAL EXPENSE 100000 8(5 Li*i" 9P7 o) P.M; ALLO@ABLE FUNERAL EXPENSE P100,000 OTE H%&$'(a -'& )%/ (% *%(& %) ,%#*#( -#)%/# -#)%/# "#,#"#(N& "#a( &%" -# ,a/#" (% *#"',a #$#&#&

Pro$* 3 Ca&# A P100000

Ca&# B P333333 ,%*$(#" ,%*$(#" a& )%%& )%%& Receivable Collectible portion (400/1,200) x 500,000 Unco Uncoll llec ecti tibl ble e por porti tio on of the the cla claim im

6!

P500,000 (166,667) P333 P333,,33



3 Ca&# C P0. D#-(%/ '& %( '&%#(

P/%-#* 4 DUE FROM PEDRO Asses of Pe+ro -ess: .ue o o h he BI BIR for u upai+ a a%es Ba0ace Co00ectb0e b1 2ua UNCOLLECTIBLE PORTION

9?d't$ )ro* '#n( Gro(( E("#"; Pro$* 7

P200000 P,""#""" '/""#""" /""#""" X /""34""

66667

P133,333

D'(ton 1 P550000 ,%*$(#" a& )%%&

Unpaid taxes on te estate be!ore deat Unpaid "ort#a#e on te estate Unpai Unpaid d loans loans arisi arisin# n# !ro" !ro" debt debt instr instr$"e $"ents nts (notari%ed) Unpaid loans arisin# !ro" debt instr$"ents (not notari%ed)& 'e debt instr$"ent as iss$ed iss$ed b a *nancial instit$tion not re+$irin# notari%ations !or debt instr$"ents iss$ed Total otal Dedu Deduct ctib ible le Cla Claim Aga Against inst the the Est Esta ate

P150,000 200,000 125,000 75,000

P550 P550,,00 0

P2097 000 ,%*$(#" a& )%%& D'(ton . P2097000

Ordinary Deductions: Clai" a#ainst insolvent person Unpaid taxes on te estate be!ore deat Unpaid "ort#a#e on te estate $neral expenses Actual = P182,000 P182,000 + 37,500 = P219,500 Liit = P5! " 5# = P250,000 !a"iu = P200,000 -$dicial expenses expenses Unpai Unpaid d loans loans arisi arisin# n# !ro" !ro" debt debt instr instr$"e $"ents nts (notari%ed) Unpaid loans arisin# !ro" debt instr$"ents (not notari%ed)& 'e debt instr$"ent as iss$ed iss$ed b a *nancial instit$tion not re+$irin# notari%ations !or debt instr$"ents iss$ed Cas$alt loss $%ecial Deductions: .tandard ded$ction edical expenses Total Allowable Allowable deduction deduction from the gross estate

P100,000 150,000 200,000 200,000

100,000 125,000 75,000

65,000 1,000,000 2,000 P,0!",00 0

Pro$* 4 :#&+% 1 P217500 :#&+% 2 P217500

7!



.a"e anser it it +$estion 1& eter or not te te estate as settled 3$diciall is irrelevant in te deter"ination o! alloable ded$ction !or 3$dicial expenses&

S%+% xpendit$res inc$rred !or te collection o! assets and pa"ent o! debts ttornes !ees (1/2 ere inc$rred a!ter six "onts) P40,000 x 1/2 cco$ntants !ees xec$tors co""ission ppraisers !ees Co$rt !ees Cost o! preservin# and distrib$tin# t te estate Cost o! storin# or "aintainin# te propert o! te estate ro ro8era era#e !ees !or !or sel sellin# lin# prop prope ert rt o! te esta estatte Total allowable #udicial e$penses

P100,000 20,000

25,000 15,000 2,500 1,000 15,000 12,000 10,000 10,0 00 P%",50 0

Pro$* > L%&& L%&& "# "# (% &'$ &'$/ /#, #,! ! (% (% 2 2 *% *%( (&& a#/ a#/ (# (# "#,# "#,#"# "#( (NN& "#a "#a( (.. R%--#/ R%--#/ %&& &## &## 7 *%(& a#/ a#/ (# "#,#"#(N& "#,#"#(N& "#a(. "#a(. T#

P500 P5000 000 00 2000000

ddn"( %'"or <#( #$$o<d y "+ B'r#' o) In"rn#$ Rn' "o %"nd "+ $in- '(' (# $#/'%" a%#" - (# Ta C%"# %) #&(a(# (a /#(/ "# (% a *#/'(%/'%& /#a&% A$$o<#$ ?d'ton

P.,700,000

P/%-#* 8 a# (% (a!# 1&( D# D#",+% M%/(a# $a'" I'+a -a&'& 2" D#",+% P/%$%/+%a(# "#",+%

P937500 187500 P750000

750>4500  562500 F'a Ba&'&  a'&' /a(# 8#ni(+in- ?d'ton

93750 P656250 40 P.4.,700

P/%-#* 9

8!

a# (% (a!# 1&( D# D#",+% M%/(a# $a'" I'+a -a&'& 2" D#",+% P/%$%/+%a(# "#",+%

P1500000  P1500000

1500>1980  170000 F'a Ba&'&  a'&' /a(# 8#ni(+in- ?d'ton

128788 P1371212 80 P1,0=4,=>0



Pro$* 10 Ca&# A P1000000 Ca&# B P1000000 Ca&# C P1000000 Ca&# D P0 Ca&# E P0

Pro$* 11 Ca&# A P500000 Ca&# B P500000 Ca&# C P150000 Ca&# D P500000 Ca&# E P0

Pro$* 1. Ca&# A P1000000 Ca&# B P500000 Ca&# C P0 Ca&# D P500000 Ca&# E P600000 Ca&# F P750000

J 1M>2 @ 500000>2K

P/%-#* 13 G/%&& E&(a(# F#/a #$#&#&

P3000000 150000

Acua0 P5""#""" P5""#""" $ /"#""" /"#""" & P("#""" P("#""" -imi & P5M % !) & P!"#""" S(a"a/" "#",+% M#"',a #$#&#& T#%#$ E("#"

1000000 400000 P1,670,000

CHAPTER 6 – PROPERT RELATIOS TRUE OR FALSE 1. T 2. T 3. T 4. T 5. T MULTIPLE CHOICE 1. A 2. B 3. B 4. C 5. C

9!

6. 7. 8. 9. 10.

F F T F F

11. 12. 13. 14. 15.

T F T T F

16. 17. 18. 19. 20.

F T T T T

7. 8. 9. 10. 11.

D D B C D

13. 14. 15. 16. 17.

B D A D D

19. 20. 21. 22. 23.

C C A A D

25. 26. 27. 28. 29.

C D C A  D



6.

D

12.

C

18.

C

24.

B

30.

D

C+#n- A'-5 3, 1==/ TO A'-'(" 3, 1=//  U"#/ ,%a $a/(#/&'$ %) a'& )/'(& #a/#" "/' *a//'a# /#a/"#&& /#a/"#&& %) &%/,# a/# ,%**% $/%$#/+#& Supportg Compuatos

No5 .. #nd .3 6ross Esae: R#&( H%&# ' Ba(aa& Ca/ C%**#/,'a a" I,%*# )/%* (# ,%**#/,'a a" I,% I,%*# *# )/%* )/%* #, #,& &' '# # $/%$ $/%$#/ #/( ( %) (# (# &$%&# ##/ %#" -#)%/# (# *a//'a# O(#/ $/%$#/+#& a( (# +*# %) #/ "#a( Gro(( E("#"

E%c0usi7e P2500000 1000000 5000000

Co8uga0

500000 200000 300000

P/,/00,000

1000000 P1,>00,000

%. 24 a" 25 6ross Esae: R#&( H%&# ' Ba(aa& Ca/ C%**#/,'a a" I,%*# )/%* (# ,%**#/,'a a" ##/ %#" -#)%/# (# *a//'a# O(#/ $/%$#/+#& a( (# +*# %) #/ "#a( Gro(( E("#"

E%c0usi7e P2500000

P.,700,000

Commo 1000000 5000000 500000 300000 1000000 P>,/00,000

No5 .4 C%a $/%$#/+#& C%a D#",+%& F#/a #$#&#&

P200000 35000

Acua0 & P,!#""" P,!#""" -imi & 'P!""#""" 9 /""#""" % !) & 5!#""" "','a #$#&#& Ca'* aa'&( (# #&(a(# #( C%a $/%$#/+#& D''"# S+#r o) "+ S'riin- So'(

20000 45000 P100000 2 P70,000

No5 .> R#a $/%$#/( P''$$'#& R#a $/%$#/( USA F#/a #$#&#&

10 !

P4000000 5000000 200000

T r a n s f e r & B u s i n e s s Ta x a t i o n ( 3r d E d i t i o n ) b y T a b a g a n d G a r c i a


"','a #$#&#& 200000 – 50000 Ca'* aa'&( '&%#( $#/&%& U$a'" (a#& Baa,# S(a"a/" D#",+%& M#"',a #$#&#& *a.a%#" Fa*' H%*# P1500000>2 Sa Sa/# %) %) (# (# &/ /'' ''  &$% &$%&&# P8 P85 55 5000 000>2 0>2 N" T#%#$ E("#"

150000 50000 50000 P8550000 1000000 500000 750000 4 4275 2750 000 00 P.,0.7,000

No5 ./ E,&'# C%a /#a $/%$#/+#& C%a )a*' %*# E,&'# $/%$#/+#& T%(a O/"'a/ D#",+%& F#/a #$#&#&

P2500000 P2500000

C%**% P5000000 1500000

T%(a

P6500000

P9000000

75000

Acua0 P5""#""" P5""#""" % /!) & P!#""" P!#""" -imi & !) % P;M & P,!"#""" Ca&a( %&&#& M'&,#a#%& "#",+%& P1M  75 #( S$#,'a D#",+%& S(a"a/" D#",+%& M#"',a #$#&#& P500000  50 Fa*' H%*# 1500000>2 Sa/# %) (# &/'' &$%&# 5675000>2 N" T#%#$ E("#"

100000 P2400000

750000 P5675000

825000 P8075000 1000000 25000 750000 2837500 P3,.>7,000

ERRATUM: ?ISREGAR? V.E,&'# P/%$#/+#& a/# ET %) Ca&a( L%&&#& No5 .= ABSOLUTE COMMUNIT OF PROPERT P/%$#/+#&La" O(#/ $#/&%a $/%$#/( %#" -#)%/# *a//'a# O(#/ $#/&%a $/%$#/( a,'/#" "/' *a//'a# G/%&& E&(a(# O/"'a/ D#",+%& F#/a #$#&#& "','a #$#&#& #( ,%a -#)%/# &$#,'a "#",+%& S+#r o) ('riin- (o'( 9P1,/00,000.;

11 !

E,&'# P2400000

P2400000

C%**% 1600000 500000 P2100000 200000 100000 P1800000 P=00,000



No5 30 CONUGAL PARTNERSHIP PARTNERSHIP OF GAINS P/%$#/+#&La" O(#/ $#/&%a $/%$#/( %#" -#)%/# *a//'a# O(#/ $#/&%a $/%$#/( a,'/#" "/' *a//'a# G/%&& E&(a(# O/"'a/ D#",+%& F#/a #$#&#& "','a #$#&#& a'&' D#",+%& #( E&(a(# B#)%/# S$#,'a D#",+%& S(a"a/" "#",+%& M#"',a #$#&#& Sa/# %) (# &/'' &$%&# P200000>2 S+#r o) ('riin- (o'( 9P1,/00,000.;

E,&'# P2400000 1600000

C%**%

P500000 P500000

P4000000

T%(a

P4500000

200000 100000 1120000 P2880000

200000

P3080000 1000000 500000 100000 P1,6/0,000

I) &'#( a" #&& (# $/%-#* ,#a/ '&(/a(# '&(/a(# (a( '( '& #,&'# a&&*# (# $/%$#/( '& ,%**%. a# (% (a!# 1&( D# D #",+% M%/(a# $a'" I'+a -a&'& 2" D#",+% P/%$%/+%a(# "#",+%

P15000 00  P1500000

1500>4500  300000 F'a Ba&'&  a'&' /a(# 8#ni(+in- ?d'ton

100000 P1400000 80 P.4.,700



PROBLEM SOL8ING PROLEM 1:

9#;P1,4.6,>>3 9#;P1,4.6, >>3 9;P6,13.,=77 9;P6,13., =77

9;P3,4=1,.70

E,&'# $/%$#/+#& C%a $/%$#/+#& ELIT a'&' D#",+%&  T/a&)#/ )%/ P-', U&#  #( E&(a(# Sa/# %) (# S/'' S$%&# 4132955>2 N" T#%#$ E("#" s P/#"""#""" I #,#&& %) P2000000 W 11 ESTATE TAX ?UE

9d;P3.1,03/ E,&'# P2000000

175227 200000 P1624773

C%**%

T%(a

P5000000 867045

P7000000

P4132955

P5757728 2066478 P3,4=1,.70

P135000 186038 P321038

T# $/%-#* '& &'#( a& (% /#,'$/%,'( /#,'$/%,'( #,# (# /%&& #&(a(# &%" ',"# (a'-# a" '(a'-# $/%$#/+#& '(' (# P''$$'#&.

ELIT

12 !



F#/a #$#&#& "','a #$#&#& Ca'* aa'&( (# #&(a(# TOTAL ELIT  ALLO@ABLE ELIT

P200000 800000 1725000 P2725000 7000>22000 P/4>,067

8ANISHING ?E?UCTIONS a# (% (a!# 1&( D# D #",+% M%/(a# $a'" I'+a -a&'& 2" D#",+% P/%$%/+%a(# "#",+%



P5000 00  P500000

500>7000  867045 61932 F'a Ba&'& P438068  a'&' /a(# 40 8#ni(+in- ?d'ton P1>7,..> S',# (# $/%$# $/%$#/+#& /+#& #/# a/#a" a/#a" ,a&&'#" ,a&&'#" a& #,&' #,&'# # a" a" ,%**% ,%**% '( '( &%" &%" -# a&&*#" a&&*#" (a( (a(

(# #,&'# $/%$#/+#& #/# a/#a" ',&'# %) (/a&)#/ )%/ $-', &#. PROLEM 2:

?dn": R(idn" CitJn  a - , "

a'&' a'&'  "#" "#",+% ,+%  ? P167 P16762 6200 00 #( #, #,&'# &'# $/%$#/( $/%$#/( %) (# (# "#,#"#( "#,#"#( ? P79238 P7923800 00 #( ,%** ,%**'( '( $/%$#/ $/%$#/( ( ? P1780 P178000 0000 00 #( Taa-# aa-# #&( #&(a( a(# # ? P153 P15323 2380 800 0

# E&(a( E&(a(# # ((a a "# "# ? P2279 P2279760 760 E,&'# $/%$#/+#& Ordinary Deductons: C%a $/%$#/+#& F#/a #$#&#& "','a #$#&#& Ca'*& aa'&( ,%a $/%$#/+#& Ca'*& aa'&( #,&'# $/%$#/+#& L-#y #-#in(" %$'(i rort(  8ANISHING ?E?UCTION A*%( /#,#'#" "#/ RA4917 #( #,&'#>,%a Special Deductons Deductons: S(a"a/" "#",+% M#"',a #$#&#& Share of he sur7i7ig spouse NET TAXABLE ESTATE ESTATE TAX ?UE

E%$'(i P10000000

Con2'-#$

To"#$

20000000 200000 300000 200000 400000  1676200 P7923800

 1500000 P17800000

P30000000 200000 300000 200000 400000  1676200 1500000 P25723800 1000000 500000 8900000 P17,3.3,/00 P.,.>=,>40

F/%* (# ')%/*a+% $/%'"#" ' (# $/%-#* (# a*%( %) P400000 a& ,a'* aa'&( #,&'# $/%$#/( &%" $#/(a' (% (# $a'" *%/(a# *%/(a# % (# a" '#/'(#". T#/#)%/# T#/#)%/# (# $/#&#( "#,#"#( $a'" $a'" P1000 P100000 00 % (# (# %/'' %/''a a a*%( a*%( %) (# *%/( *%/(a# a# P5000 P500000 00..

T'& T'& &%" &%" -# (a!# (a!# '(% '(%

,%&'"#/a+% ' ,%*$+ (# a'&' "#",+%.  LEGAC AGAINST EXCLUSI8E PROPERTIES

13 !



L#a, *#a& -##&( %/ '#/'(a,# %) $#/&%a $#/&%a $/%$#/+#&. T# "#",+-# #a,>"#'&#" #a,>"#'&#" -##&(& "#/ (# (a ,%"# a/# T/a&)#/ )%/ $-', &# R# I,"# -%( ' (# G/%&& E&(a(# a& # a& ' (# D#",+%&



)/%* (# G/%&& E&(a(#  a" B##&(& (% ,a/'(a-# '&+(+%& #/#' %( *%/# (a 30 %) (# -##&( a& &#" )%/



a"*''&(/a+# a"*''&(/a+# $/$%&#& R# Sa*# a& (/a&)#/ )%/ )%/ $-', &# F/%* (# ')%/*a+ ')%/*a+% % $/%'"#" $/%'"#" a-%# a-%# (# $/%-#* $/%-#* a& &'#( a& (% (# ($# %) (# #a, #a,. I ,a&# %) "%-( (# (% ($#& %) (/a&)#/& (/a&)#/& #*#/a(#" a-%# &%" %( -# a&&*#". T#/#)%/# T#/#)%/# (# '(#* &%" -# (/#a(#" a& a &'*$# #a, %/ (/a&)#/ ' ,%(#*$a+% %) "#a( ', '& a""#" % ' (# /%&& #&(a(#. a# (% (a!# M%/(a# Pa'" refer refer o e%p0aato abo7e abo7e I'+a -a&'& 2" D#",+% 2900>30000  P1.1M F'a Ba&'&  /a(# 8#ni(+in- ?d'ton 

P3000000 100000 P2900000 106333 P2793667 60 P1,4>4,.00

PROLEM 3:

?dn": R(idn" A$in 

a #( Taa-# Taa-# #&(a(# ? P3570000

-E&(a(# (a "# ? P307700

H%&# a" %( USA  I#&(*#( ' &(%,! P''$$'#& I#&(*#( ' &(%,! USA I#&(*#( ' -%"& USA Ca& ' -a! P''$$'#& Ca& % a" P''$$'#& A,,%(& /#,#'a-# Ca/ P''$$'#& L#a, ' )a%/ %) P''$$'# a+%a R#" C/%&& D#'&# (% :#;% C'( )%/ ,'"/#N& $a/%" T%(a G/%&& E&(a(# Ordinary Deductons: F#/a #$#&#& "','a #$#&#& U$a'" P''$$'# ',%*# (a )%/ ',%*# ' 2011 L%&& % D#,#*-#/ 31 2012 "# (% (# L#a, ' )a%/ %) P''$$'# a+%a R#" C/%&& D#'&# (% :#;% C'( )%/ ,'"/#N& $a/%" A,,%(& /#,#'a-# ) ,%#,+-#  Special Deductons: Deductons: S(a"a/" "#",+% M#"',a #$#&#& N" T#%#$ E("#" E("#" T#% ?'

P2000000 800000 1000 000 700000 300000 50000 200.000 800000 50000 70000 P5970000 P150000 300000 120000 10000 50000 70000 200000

900000 1000000 500000 P3,7>0,000 P30>,>00

OTE P/%-#* 3 Fa*' %*# '& %( a%#" a& a "#",+% )%/ &'# "#,#"#(

14 !



T% -# "#",+-# (# #a,>"#'&# &%" -# ',"#" /&( ' (# "#,#"#(N& /%&& #&(a(# A&&*# (# "#-(%/ '& a '&%#( $#/&%. PROLEM 4

a -

?dn": R(idn" A$in  a'&' a'&'  "#",+ "#",+% % ? P4414 P441463 63 #( Taa-# aa-# #&(a( #&(a(# # ? P320 P32000 0000 00

, E&(a E&(a(# (# (a (a "# "# ? P386 P3867 739 39 La" H%&# a" L%( )/'(/# a" a$$'a,#& O(#/ (a'-# $#/&%a $/%$#/+#& A*%( /#,#'#" "#/ RA4917 Ca'*& aa'&( '&%#( $#/&%& ,%a Specia0 +e+uctos: S(a"a/" "#",+% M#"',a #$#&#& Share of he sur7i7ig spouse TAXABLE ESTATE E("#" T#% ?'

E%$'(i P3000000

Con2'-#$ P5000000 1200000 1000000 50000

To"#$

P10250000

200000 100000 500000 50000 350000 441463 P2208537

a# (% (a!#>I'+a Ba&'& 2" D#",+% 2500>10250  1200000 F'a Ba&'&  /a(# 8#ni(+in- ?d'ton 

P6400000

P8608537 1000000 120000 3200000 P6,.//,73> P3/4,>3=

P2500000 292683 P2207317 20 P661,643

 P700000 – 350000 ? P350000 T# a*%( $a'" % (# *%/(a# &%" %( -# ,%&'"#/#" ' ,%*$+ (# a'&' "#",+% -#,a&# (# a*%( $#/(a'& (% a *%/(a# #(#/#" '(% '(% - P#"/% "/' '& ')#+*#. T% -# "#",+-# (# *%/(a# &%" a# -## a&&*#" % (# $/%$#/( a( (# +*# %) '#/'(a,#.

PROLEM 5

15 !

Con2'-#$

A(o$'"

P#r"nr(+i E

Co**'ni"y E

15

R#a P/%$#/( in+ri"d - (# "#,#"#( +urig (# +urig (#

2.

*a//'a#. I,%*# #a #a/#" +urig *a//'a# +urig *a//'a# )/%* (# $/%$#/( ' (#

C

E

3.

$/#,#"' *-#/. P/%$#/( a,'/#" - (# "#,#"#( '( ,a& %#" -#)%/#

E

C



(# *a//'a# P#/&% #/&%a a -#% -#% ' '& & &#" &#" e%c0usi7e01 e%c0usi7e01 - - (# "#,#"#( ##/ )%/ (# #,&'# &# %) %# %) (# &$%&#& P/%$#/( '"#+#" # a" - %* a,'/#" L%( a,'/ a,'/#" #" -#) -#)%/# %/# (# *a//'a *a//'a# # - (# &/' &/'' ' &$%&# &$%&#

4. 5. 6. 7.

E C C E

E C C E

E C C

E C C

&/'' &$%&# a" a $/#'%& *a//'a# a" #'+*a(# 8. 9. 10.

,'"/# ' (a( $/#'%& *a//'a# I,%*# )/%* (# %( a-%# Ca& – ',%*# "/' *a//'a# E,&' E,&'# # $/%$#/( $/%$#/(  a& &%" a" a& a& /#$/, /#$/,a&#" a&#" &' ,%a $/%$#/(

CHAPTER 7  ESTATE TAX CRE?IT AN? ESTATE TAX ?ISTRIBUTABLE MULTIPLE CHOICE 1. B 2. C 3. D 4. C 5. C 6. C 7. C

8. 9. 10. 11. 12. 13. 14.

A D A D D A D

15. 16. 17. 18. 19. 20. 21.

A C C A D A C

22. 23. 24. 25. 26. 27. 28.

C A C D C A B

29. 30. 31. 32.

C D A B

Supportg Compuatos:

%.5 E&(a(# (a "# )%/ P4M E&(a(# (a ,/#"'( 3>4  P355000 & P80000 E("#" "#% #y#$

P355000 80000 P.>7,000

No5 4 E&(a(# (a "# )%/ P500000 L#&& E&(a(# (a ,/#"'( E("#" "#% #y#$

Li*i" 1: S'a$%/# 300>1000  P55000 USA 100>1000  P55000

P55000 20500 P36,700

Li*i" P16500 5500

A"'#$ P30000 4000

A$$o<d P16500 4000 P20500

P22000

34000

22000 P.0,700

Li*i" .: 400>1000  P55000 ALLO@E? TAX CRE?IT 9LO@ER AMOUNT; No5 > G/%&& E&(a(# D#",+%& Sa/# %) (# &/'' &$%&# 5000000  60  50

16 !

P10000000 5000000 150 500000



#( (aa-# #&(a(# P3500000 Ta D# P300000 E&(a(# (a ,/#"'( 2.8>3.5  P300000 & P124500 124500 E("#" "#% #y#$ P1>7,700 #( #&(a(# F/a,# F/a,# ? J6M 2M  0.6  1>2K @ 6M2M  0.4 ? P2800000 #( #&(a(# R.P. R.P.

? J4M3M  0.6  1>2K @ 4M3M  0.4 ? P700000

No5 / E&(a(# (a "# )%/ P500000 L#&& E&(a(# (a ,/#"'( E("#" "#% #y#$

P71000 41417 P.=,7/3

Li*i" 1: a$a 300>1200  P71000 USA E,"# )%/ $/$%&#& %) ,%*$+ L'*'( 1 H< 450>1200  P71000 Li*i" .: 9In$'d USA; 700>1200  P71000 ALLO@E? TAX CRE?IT 9LO@ER AMOUNT;

Li*i" P17750  26625

A"'#$ P20000  45000

A$$o<d P17750  26625 P44375

P41417

65000

41417 P61,61>

No5 = #nd 10 P/%$#/( '#/'(#" P/%$#/( a,'/#" (/% % a-%/ F#/a #$#&#& "','a #$#&#& Ca'*& aa'&( (# #&(a(#

#( Taa-# P1400000 3600000 200000 200000

#( D'&(/'-(a- a-# P1400000 3600000 240000 200000

40000

40000

 1000000 P3,740,000

20000  P6,700,000

%(a/';#" %( %(a/';#" S(a"a/" "#",+% N" T#%#$?i("ri'"#$ ("#"

No5 ./ L#X#/ a VVV.T# B/#a %) I(#/a R### ,a a&! $a*#( )/%* (# #'/& (% %* (# #&(a(# a& -## di("'rd VV.. +#n- "o ?i("ri'"d

PROBLEM SOL8ING Proble !:

2P0 %( a%#"

1P200000 #( Taa-# E&(a(#

E&(a(# Ta D# JP465000 @ 5M  15K E("# E("#"" "#% "#% rd rdi" i" 961 9610 0 % P1,. P1,.17 17,0 ,000 00;; ( P.0 P.00,00 0,000 0 E&(a(# (a $aa-#

P10000000 P1215000 9.00 9.00,0 ,000 00;; P1015000

P/%-#* II #( Taa-# E&(a(#

17 !

P2000000



E&(a(# Ta D# E&(a(# (a ,/#"'( E("#" "#% #y#$ #Kr "#% rdi"

P135000 67500 P4>,700

#( Taa-# E&(a(#

P2000000

Li*i" 1: Caa"a 500>2000  P135000 USA 500>2000  P135000

Li*i" P33750 33750

A"'#$ P150000 110000

A$$o<d P33750 33750 P67500

P67500

260000

67500 P4>,700

Li*i" .: 1000>2000  P135000 ALLO@E? TAX CRE?IT Proble !!!:

a #( Taa-# #&(a(# ? P3570000

-E&(a(# (a "# a#/ (a ,/#"'( ? P142770

,  #( D'&(/'-(a-# E&(a(# E&(a(# ? P4427230 H%&# a" %( USA  I#&(*#( ' &(%,! P''$$'#& I#&(*#( ' &(%,! USA I#&(*#( ' -%"& USA Ca& ' -a! P''$$'#& Ca& % a" P''$$'#& A,,%(& /#,#'a-# Ca/ P''$$'#& L#a, ' )a%/ %) P''$$'# a+%a R#" C/%&& D#'&# (% :#;% C'( )%/ ,'"/#N& $a/%" T%(a G/%&& E&(a(# Ordinary Deductons: F#/a #$#&#& "','a #$#&#& U$a'" P''$$'# ',%*# (a )%/ ',%*# ' 2011 L%&& % D#,#*-#/ 31 2012 "# (% (# L#a, ' )a%/ %) P''$$'# a+%a R#" C/%&& D#'&# (% :#;% C'( )%/ ,'"/#N& $a/%" A,,%(& /#,#'a-# )'$$y 'no$$t$ Special Deductons: Deductons: S(a"a/" "#",+% M#"',a #$#&#& NET TAXABLE ESTATE E("#" T#% ?' E&(a(# Ta C/#"'(

P2000000 800000 1000 000 700000 300000 50000 200.000 800000 50000 70000 P5970000

P150000 300000 120000 10000 50000 70000 200000

900000 1000000 500000 P3,7>0,000 P30>,>00 164930

L'*'( J3200>5970 J3200>5970  307700 ? P164930 A,(a P250000 ESTATE TAX ?UE AFTER ESTATE TAX CRE?IT

P16.,>>0

OTE Fa*' %*# '& %( a%#" a& a "#",+% )%/ &'# "#,#"#( T% -# "#",+-# (# #a,>"#'&# &%" -# ',"#" /&( ' (# "#,#"#(N& /%&& #&(a(#

18 !



 C%&'"#/#" a& E&(a(# '('  R#)#/ a-%# TOTAL GROSS ESTATE R Ordinary Deductons: F#/a #$#&#& "','a #$#&#& U$a'" P''$$'# ',%*# (a )%/ ',%*# ' 2011 L%&& % D#,#*-#/ 31 2012 "# (% (# L#a, ' )a%/ %) P''$$'# a+%a R#" C/%&& D#'&# (% :#;% C'( )%/ ,'"/#N& $a/%" A,,%(& /#,#'a-# )'$$y 'no$$t$ Special Deductons: Deductons: S(a"a/" "#",+% M#"',a #$#&#& E("#" T#% ?' #Kr "#% Crdi" NET ?ISTRIBUTABLE ESTATE

P5970000 P150000 300000 120000 10000 50000 70000 200000

900000  500000 916.,>>0; P6,6.>,.30

P/%-#* I R#a $/%$#/( P''$$'#& "lai #$ains% !nsol&en% Persons R#a $/%$#/( USA R#a $/%$#/( a$a #( #&(a(# Maa&'a T%(a G/%&& E&(a(# ,%**% F#/a #$#&#& *a'** "','a #$#&#& P200000100000 "lai a$ains% insol&en% persons U$a'" (a#& #( #&(a(# -#)%/# &$#,'a "#",+%&  Sa/# %) (# &/'' &$%&# #( #( #&( #&(a( a(# # %) %) (# (# "#,# "#,#"# "#( ( ' (# (# ,% ,% a a $/% $/%$# $#/+ /+#& #& S(a"a/" D#",+% Fa*' H%*# M#"',a E$#&#& NET TAXABLE ESTATE TA DUE 1ST P500000 I #,#&& %) P500000 W 8 ESTATE TA DUE E&(a(# Ta C/#"'( %# % E&(a(# Ta Pa*#(& a-/%a" ESTATE TAX PAABLE

19 !

P4000000 50000 3000000 2000000 1000000 P8050000 200000 100000 50000 50000 P7650000 1>2 P38 P3825 250 000 00 1000000 1000000 500000 P1,3.7,000

P15000 66000 P81000  P/1,000



T%(a G/ G/%&& E& E&(a(# ,%**% a& ,%*$(#" aa-%# F#/a #$#&#& a,(a "','a #$#&#& a,(a Ca'* aa'&( '&%#( $#/&%& U$a'" (a#& #( #&(a(# -#)%/# &$#,'a "#",+%&  Sa/# %) (# &/'' &$%&# #( #( #&(a(# a(# %) %) (# "#,# #,#"# "#( ' (# (# ,% %a a $/%$ $/%$# #/+#& +#& S(a"a/" D#",+% Fa*' H%*# M#"',a E$#&#& a,(a E&(a(# Ta NET ?ISTRIBUTABLE ESTATE

P8050000 300000 200000 50000 50000 P7450000 1>2 P37 P3725 250 00 00   650000 81000 P.,==6,000

CHAPTER 4  ?ONORS TAX TRUE OR FALSE 1. T 2. T 3. F 4. T 5. T 6. T MULTIPLE CHOICE 1. A 2. A 3. C 4. C 5. B 6. D 7. D 8. D 9. D 10. C

7. 8. 9. 10. 11. 12.

F T F F T F

13. 14. 15. 16. 17. 18.

F F F F F F

19. 20. 21. 22. 23. 24.

F F F F F T

25. 26. 27. 28. 29. 30.

T T F T F F

11. 12. 13. 14. 15. 16. 17. 18. 19. 20.

D B C D D B D A B C

21. 22. 23. 24. 25. 26. 27. 28. 29. 30.

D C A D C C D C D B

31. 32. 33. 34. 35. 36. 37. 38. 39. 40.

B C D A B D C B D D

41. 42. 43. 44. 45. 46. 47. 48. 49. 50.

A B A A C B B D D A

Supportg compuato: compuato:

No5 1>5 ERRATUM: L#X#/ C

A ' (% (# I(#/a+%a R',# R#&#a/, I&+((#VV i( %*" %*" )ro* -iK 

No5 1=5 I) (# &a# '& ,%&'"#/#" ,++%& (# #+/# a# a( (# "a(# %) &a# '& &-#,( (% "%%/ N& (a. No5 ..5 L#X#/ a – %#/%& (/a&)#/ L#X#/ -  T% -# ,%&'"#/#" a'" "%a+% (# /#,'a+% &%" -# (i#$$y #nd #"-ori#$$y #"-ori#$$y "%# ' )a%/ %) idntd +ir9(; (% (# #,&'% %/ "'&a"a(a# %) (# %(#/ ,%#'/& ' (# #/#"'(a/ #&(a(#. L#X#/ , – /a('(%& (/a&)#/ &-#,( (% "%%/N& (a

20 !



No5 .7. D%a+% (% G/%&& G'& 2M>2 >2 L#&& D%/ #( (aa-# '

P#"/% P500000 10000 P490000

Ca/a P500000  P500000

%. 28. DOEE S% D. ' La P2500000  10000  P2490000 

G/%&& G'& 5M>2 L#&& D%/ #( (aa-# '

No5 3.36. NG 931; T#% ?' 9P.7,000 % .; GG 971; D%/ PG 3>1 TNG Ta D# Ta Pa'" 3>1 ?5T5 P#y#$

GG 9>1; PG 3>1 a" 5>1 TNG Ta D# To"#$ T#%( P#id >1

H&-a" 125000 P700

Y')# 125000 P700

P100000 10000 125000 P.17,000

P100000 10000 125000 P.17,000

P2600 500 P.,100

P2600 500 P.,100

100000 100000 215000 215000 P317,000 P317,000 6600 6600 P13,.00

%. 39. Taa-# ' Ta D# Ta C/#" C/#"'( '( P45 P4500 00 &. &. 200 200>3 >300 00  P60 P6000 00?P ?P4 400 000 0 ?5T5Py#$

P300000 P6000 40 4000 00 P.,000

Ca# C%',# " )ro* P.,.00 "o P.,000

PROBLEM SOL8ING Proble !

ITEM A B C D E F G H

21 !

:Z1 P800000 3000000 250000 100000 5000000 1500000 100000 100000

:Z2 P800000 3000000 250000 100000 5000000 1500000 100000 100000

:Z3 P800000 3000000 250000 100000 5000000 1500000 100000 100000

:Z4 P800000

:Z5 P800000



250000 100000

1500000  

1500000 100000 



I La" 1 La" 2 La" 3 Ca/ GROSS GI GIFT

500000   5000000 200000 P14,770,000

500000   5000000 200000 P14,770,000

500000   5000000 200000 P14,770,000

500000    200000 P3,000,000

500000    200000 P3,670,000

T# #&+% '& /%&& '& #,# "'&/#a/" (# *%/(a#. Sa# %) La" Z1 '& a (/a&)#/ '( '&Q,'#( ,%&'"#/a+%. ,%&'"# /a+%. H%##/ '!# ' E&(a(# Taa+% T/a&)#/ '( '&Q,'#( ,%&'"#/a+% )%/ "%%/N& (a $/$%&#& '& %( (aa-# ') (# $/%$#/( "%a(#" '& a /#a $/%$#/( ,a&&'#" a& ,a$'(a a&&#( &-#,( (% ,a$'(a a'& (a.  Sa# %) La" Z 2 '& ,%&'"#/#" -%a"# %/ a'" &a#. Sa# %) La" Z3 '& a (/a&)#/ '( '&Q,'#( ,%&'"#/a+%. ,%&'"#/a+%. %#(##&& (# &a# '& &-#,( (% "%%/N& (a -#,a&# (# $/%$#/( a& %( &-#,(#" (% ,a$'(a a'& (a. Ca$'(a a'& (a % /#a $/%$#/+#& a/# a$$',a-# % % &a# %) /#a $/%$#/+#& ,a&&'#" a& ,a$'(a a&&#(& %,a(#" ' (# P''$$'#&. Proble !!

ITEM A B C D E F Ca/ Aa-a Ca/ Maa&'a La" C#- GROSS GIFT

:Z1 P450000 1000000 1500000 2000000 3000000 500000 200000 200000  P1.,=00,000

:Z2 P450000    3000000  200000   P>,>00,000

Proble !!!

1.P0

2.P5000

3.P10000

43000

Proble !' 

D%a %a+% +%R R#" C/%&& %&& # ##*$ #*$( "# "#// a &$# &$#,' ,'a a a a P10 P1000 0000 D%a+% (% Ma'a C'( Ha  300000 M%/(a# % (# a" 400000  [ 100000 To"#$ dd'ton( )ro* "+ -ro(( -iK( P700,000 E#*$( "%a+%& ', $a/(a!# (# a(/# %) "#",+%& a" a/# (#/#)%/# (#/#)%/#  "#",+-# )/%* (# /%&& '& (% a//'# a( (aa-# #( '&. Proble ' D%a+%& (% R#a+#& a" S(/a#/&

Ca& (% '& &% % a,,%( %) *a//'a# Ca& (% PPCR )%/ 2013 ##,+% ##/ (% '& a+# S%#& a" -a& (% '& '/)/'#"

22 !

R$#t P50000  46000

S"r#n-r  30000



B%%!& (% (# C'( %) Ma!a+ S#,%" a" ,a/ (% '& /&( ,%&' B/a" # SU (% '& &#,%" ,%&' &-#,( (% /#%,a+% Sa/#& %) &(%,!& %) a "%*#&+, ,%/$. (% '& -#&( )/'#" Ca/ (% '& "a(#/ a "%a+% *%/+& ,a&a F%/'# F%/'# a %a "# )/%* '& -/%(#/5000025000 -/%(#/5000025000 S$%/(& #'$*#( (% '& -/%(#/ ' a Pa/,# %) a" (% (# P''$$'# %#/*#( )%/ $-', &# Gro(( GiK(

20000 500000   25000

P4.1,000

 150000  75000 1000000 P1,.>7,000

OTE 

Cash o PPCR=> %( ,%&'"#/#" a& "%a+% "#/ (# (# (a ,%"#. I( '& &-#,( (% (# /#& a" /#a+%& %) (# COMELEC "#/ (# ##,+% ,%"# %) (# P''$$'#&.



Ci1 of Makat AD -a+ for Pub0ic ?se> A(% (# "%a+% '& ##*$( '( &a -# ,%&'"#/#" ' (# "#(#/*'a+% %) /%&& '&



6i@ sub8ec o re7ocato '& %( a '.



.oato morts causa '& causa '& a "%a+% &-#,( (% #&(a(# (a %( "%%/N& (a.

Proble '!

Ta $aa-# % 1 Ma/, a/, 1 ? P20 P200 00 2 Ma 30 30 ? P18 P180 000 3 # # 30 30 ? P90 P90000 000 4  31 ? P0 5 S#$( S#$(#* #*-# -#// 30 30 ? P447 P4472 200 00

S%+% G/%&& G'& D%/ #( (aa-# ' ?onor ( T#% ?' P#y#$  M#r+ 1

P200000  P200000 P.,000

G/%&& ' L#&& M%/(a# a&&*#" - (# "%## A"" P/'%/ #( ' Taa-# ' – Ma 30

P500000 100000 200000 P600000

D%%/ N& Ta D# L#&& Ta $a'" ?onor ( "#% #y#$M#y 30

P20000 2000 P1/,000

?onor( "#% #y#$'n 30

P=0,000

1 y#r #Kr $r#ton

9P300,000 % 30; ?onor ( "#% #y#$'$y 31 9B#n"#y B#"#;

23 !

P0



G/%&& G' D%/ M%/(a# a&&*#" P/'%/ #( ' Taa-# '

S"*r 30 R$#t P1500000 10000 300000 600000 P1790000

Ta D# L#&& Ta Pa*#(& T#% P#y#$

P107200 20000 P/>,.00

S"r#n-r P1500000  300000

To"#$

P1200000 W30 P360000

340,000

P66>,.00

Proble '!!

1 2 3 4 5

a aa/ a/  15 15 201 2012 2 ? P32 P320 000 00 A$/' A$/' 1 1 201 2012 2 ? P60 P6000 00 D#,# D#,#**-#/ #/ 25 25 201 2012 2 ? P0 Ma/, Ma/,  30 30 2013 2013 ? P30 P300 000 00 Ma 25 25 201 2013 3 ? P0

S%+% G/%&& G'&a. 1 2012 L#&& E,*-/a,# Taa-# ' ?onor ( "#% d'#y#$#n5 1, .01. G/%&& ' – A$/' 1 2012 A"" P/'%/ #( ' Taa-# ' D%%/ N& Ta D# L#&& Ta $a'" ?onor ( "#% #y#$Ar5 1, .01.

P1000000 200000 P800000 P3.,000 P100000 800000 P900000 P38000 32000 P4,000

?*r .7, .01.

P0

M#r+ 30 .013 P100000  30

T# /# (a( ' %) %( *%/# (a P30000

P100000 '& ##*$( '& a$$',a-# % (% "%a+%& *a"# (% /#a+#&.

M#y .7, .013 G/%&& ' D#",+%& Taa-# ' T#% ?'

P200000 200000 P0 P0

Proble '!!!

1 2

O,(% O,(%-# -#// 8 8 201 2014 4 ? P98 P9800 00 %# %#**-#/ #/ 4 4 201 2014 4 ? P12 P1200 00

'n 4, .016

24 !



G/%&& G' D%/ M%/(a# a&&*#" Taa-# '

?onor ( T#% P#y#$

G/%&& G' D%/ P/'%/ #( G' Taa-# ' D%%/ N& Ta Ta Ta-# Ta Pa'"# 6 ?onor ( T#% P#y#$

G/%&& G'& ("r#n-r( E#*$( P/'%/ #( G' Taa-# '

?onor ( T#% P#y#$

H'(#nd P240000 10000 2000 P228000

@i) P240000 10000 2000 P228000

P3,1.0

P3,1.0

O"or /, .016 H'(#nd P30000  P228000 W30

P=,0000 No*r 6, .016 H'(#nd P7000 5000  P2000 W30 P400

@i) P30000 10000 228000 P248000 P3920 3120 P/00

To"#$

P4,.60

To"#$

P=,/00

@i) P7000 5000  P2000 W30 P400

To"#$

Mr(5R#*o( P115000 90000 P25000 W30 P>,700

To"#$

Mr(5R#*o( P191000 10000 2500  P178500

To"#$

P1,.00

Proble !(

1 2

O,(% O,(%-# -#// 10 10 201 2013 3 ? P31 P3140 40 A$/' A$/' 4 2014 2014 ? P13 P1350 500 0

G/%&& G'& ("r#n-r( E#*$( Taa-# '

?onor ( T#% P#y#$

G/%&& G'& D%/ M%/(a# a&&*#" P/'%/ #( '& Taa-# ' D%%/ N& Ta Ta $a'" ?onor ( T#% P#y#$

25 !

'n 4, .013 Mr5R#*o( P115000 90000 P25000 W30 P>,700 O"or 10, .013 Mr5R#*o( P191000 10000 2500  P178500 P1570  P1,7>0

P1570  P1,7>0

P17,000

P3,160



Ari$ 6, .016 Mr5R#*o( P45000  

G/%&& G'& D%/ P/'%/ #( '& %# "'\#/#( #a/ Taa-# '

?onor ( T#% P#y#$

Mr(5R#*o( P45000 10000 

P45000 W30 P13,700

To"#$

P35000

E%*"

P13,700

Proble (

1P7000

2P2600

3P69800

G/%&& G'& D%/ -#%" 1 #a/ M%/(a# a&&*#" Taa-# ' ?onor ( T#% P#y#$

G/%&& G'& D%/ P/'%/ #( ' Taa-# ' D%%/ N& Ta D%%/ N& (a $a'" ?onor ( T#% P#y#$

G/%&& G'& D%/ P/'%/ #( ' Taa-# ' D%%/ N& Ta D%%/ N& (a $a'" ?onor ( T#% P#y#$

4P30000 F5 17, .016 Mr5M##rio$# P200000  50000 P150000 P1,000

M#r+ 30, .016 Mr5M##rio$# P200000  150000 P350000 8000 1000 P>,000

'n 1, .016 Mr5M##rio$# P 

Mr(5M##rio$# P200000  50000 P150000 P1,000

To"#$

Mr(5M##rio$# P 

To"#$

P.,000

P>,000

Mr(5M##rio$# P100000 10000 150000 240000 P3600 1000 .,400

To"#$

P.,400

O"or 1., .016 Mr5M##rio$# D%a+% (% D%a+% (% a G/%&& G'& D%/ ,a'*#" # 1

26 !

S(/a#/ P200000 

R#a+# P200000 

Mr(5M##rio$# D%a+% (% a

To"#$

R#a+# P400000 



M%/(a# a&&*#" P/'%/ #( ' Taa-# '

50000 150000 W30

D%%/ N& Ta D%%/ N& (a $a'" ?onor ( T#% P#y#$ To"#$ Donaton by "li)ord: G/%&& G'&

P67,000 P76,000

50000 240000 590000

350000 550000 P17000 8000 P=,000

P19400 3600

P17,/00

P4=,/00

P100000 W30

?onor ( T#%

P30,000

ERRATUM: Ron#$d

C+#n- "o C$iord

CHAPTER >  BUSINESS TAXES MULTIPLE CHOICE 1. A 2. D 3. D 4. D 5. D 6. C

7. 8. 9. 10. 11. 12.

B C D C A C

13. 14. 15. 16. 17. 18.

D C B C A D

19. 20. 21. 22. 23. 24.

C D D A D C

25. 26. 27. 28. 29. 30.

A D C A A C

 T# #"&# $#/&% &' (# ,%**',a+% )a,''( '& (# %# 'a-# )%/ OCT OCT %( (# ,%**',a+% ,%*$a. ,%*$a. 3 CCT '& a$$',a-# % (% "%*#&+, ,a//'#/& (/a&$%/+ $a&&##/& $a&&##/& - a" %( - a'/ %/ &#a.

CHAPTER /  8ALUE A??E? TAX TRUE OR FALSEPART A 1. T 6. 2. F 7. 3. F 8. 4. T 9. 5. T 10. TRUE OR FALSEPART B 1. T 6. 2. T 7. 3. T 8. 4. F 9. 5. F 10. MULTIPLE CHOICE 1. D 21. 2. C 22. 3. A 23. 4. D 24.

27 !

F F F T T

11. 12. 13. 14. 15.

F F F F F

16. 17. 18. 19. 20.

T F F T T

F F F T F

11. 12. 13. 14. 15.

F F T F T

16. 17. 18. 19. 20.

T T T F F

A B D C

41. 42. 43. 44.

B C A B

61. 62. 63. 64.

B C A C

21. 22. 23. 24. 25

F F T F F

81. 82. 83. 84.

D C D C



5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20.

D D D D D B A C C A A D C C A D

25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40.

A C C D C D B C B A D A B B B B

45. 46. 47. 48. 49. 50. 51. 52. 53. 54. 55. 56. 57. 58. 59. 60.

C D D B D D C C D B C B D D C A

65. 66. 67. 68. 69. 70. 71. 72. 73. 74. 75. 76. 77. 78. 79. 80.

A B B C D A C B D A D D A D B C

85. 86. 87. 88. 89. 90. 91. 92. 93. 94. 95.

B D A B D D B C D C D

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Supportg Compuatos: Compuatos: No5 16 T% -# ##*$( (# ,%(/'-+%& )/%* #a, *#*-#/ ' '(#* III &%" %( #,##" P15000. No5 .1 I(#* a '& ,%*$%&#" %) &#' $/',# a" (# a$$',a-# %($( a(

%. 23 O($( a a( P P280550 @P152400  12 I$( a a( P P110220@P101250  12 8#" P#y#$

P51954 25374.6 P.4,7>/

O($( a( 3/"  a/(#/ P150000  12 I$( a( 3/"   a/(#/ P120000  12 D#)#//#" '$( a( – $/#'%& a/(#/ 8#" P#y#$ 9C#rryor;

P18000 14400 6000 9P.,600;

%. 24

%. 40 AR  1 B''& S#$(. AR S#$(. 30 C%#,+%& O($( a( W 12 I$( a( % $/,a&#& W 12 a( Paa-#

P180000 850000 120000 P910000 109200 57600 P51600

%. 42 O($( a( P10M  12 I$( a( % *a(#/'a& I$( a( % ,a$'(a %%"&

28 !

P1200000 480000 36000



P3M12 >60 *%&. a( Paa-# 'n 30, .016

P684000

%. 44 Sa#& &a/#& #" a& '#(%/ C%& %) &a/#& #" a& '#(%/ Gro(( ino* a( /a(# O($( a( L#& I$( a( S$$'#& #$#&# R#( #$#&# 8#" #y#$

P5000000 2000000 3000000 12 P360000 12000 24000

36000 P3.6,000

%. 52 D%*#&+, &a#& P600000  12 A"" T/a&a,+% T/a&a,+% "##*#" &a#& a. 4 ,%&'*#( P200000  12 G%%"& ,%&*#" % F#. 27 P50000  12 P/%$#/( "''"#"& P150000  12 To"#$ O'"'" 8#"

P72000 24000 6000 18000 P1.0,000

%. 63 O($( (a 150000  12 L#&& I$( (a#& P/,a&#& 800000  12 Ma,'#/ 240000>60  3*%&. Ca C a//%#/ E%(( in'" #"

P180000 96000 12000 97000

205000 9P.7,000;

%. 64 O($( (a % &a# 2000000 12 O($( (a % &a# %) *a,'#/ 2000000 12 L#&& I$( (a#& P/,a&#& 1000000 12 Ua*%/+;#" '$( (a % *a,'#/

P240000 240000 120000 25000

240000 12000 Ca Ca//%#/ 8AT P#y#$

228000

373000 P10>,000

%. 71 = 72 O($( a( P592480  3>28 L#&& In'" 8#" P/,a&#& %) %%"& P100000  12 P/,a&#& %) &#/',#& P20000  12 T/a&'+%a '$( a( 8AT P#y#$

P63480 P12000 2400 4800

91=,.00; P66,./0

No5 >> C+#n- "+ y#r )ro* .010 "o .01. O($( a( )%/ O,(%-#/ 2012 ? P3M  12 ? P340,000

29 !





Ra+% %) I'+a PaN( %#/ G/%&& S.P. ? P900000>P3000000 ? 30



I) ''+a $a*#( '& *%/# (a 25 %) S#' P/',# (# &a# '& ,a&&'#" a & D#)#//#" Sa# ', '& (/#a(#" a& Ca& Sa#. T#/#)%/# T#/#)%/# (# #+/# %($( a( '& "# % (# *%( %) &a#.

No5 >/ O($( a( )%/ 2013 ? P0

T# #+/# %($( a( a& $a'" ' 2012

%. 80 D%$a*#( 1&( ' '&(a*#( $a*#( T%(a a( ',&'# L#&& AT P224000  3>28 I'+a Pa*#( #,&'# %) a( ,%(/a,( P/',# P1120000  3>28 ?iid y ,% R#to o) Init#$ P#y*n" or SP O'"'" #" )or .01. 9P.00,000 % 1.;

P112000 112000 224000 24000 P200000 1000000 .0 P.6,000

%. 80 =A < CAS SA-E: FM8 i( +i-+r "+#n SP P600000  12 =A < .EDERRE. SA-E: R#to %) I'+a $a*#( %#/ SP .7 %( a')' "#/ '&(a*#( *#(%" T/#a(#" a& ,a& &a# SP i( +i-+r "+#n FM8 JP336000>1.12 JP336000>1.12  12K TOTAL OUTPUT 8AT

P72000 36000

P10/,000

%. 83 a" 84 O($( a( P336000  3>28 In'" #" 56000 @ 11200  3>28  300>500 8#" P#y#$

P36000 96,3.0; P31,4/0

%. 85 OUTPUT AT P896000  3>28 IPUT AT P/,a&#& %) %%"& a( -&'#&& a( ',"#"

P96000 24000

P224000  3>28 MIXE? Tr#n(#ton(: P/,a&#& %) &$$'#& )%/ a( = % a( -&'#&& J112000  3>28  800000>1000000K P/,a&# %) "#$/#,'a-# a&&#( )%/ &# ' a( a" % a( -&'#&& JP2240  3>28  800000>1000000K 800000>1000000K 8AT PAABLE

9792

P4.,.0/

%. 86 a" 87 OUTPUT AT AT D%*#&+, &a#& P330000 @ P274996  3>28 E$%/( &a#& ;#/% /a(#" INPUT 8AT

30 !

P64821 0



P/,a&#& %) %%"& &$$'#& a" &#/',#& )%/ "%*#&+, &a#& a" )%/ #$%/(

94=,=6/; 9P7,1.>;

374000 @ 69848 @ 154000 @ 55000  3>28 8#" P#y#$

%. 88 Ra Ma(#/'a& P560000  3>28  400000>1M S$$'#& P448000  3>28  400000>1M E'$*#( P300000  12  400000>1M INPUT 8AT ATTRIBUTE? TO EXPORT SALES

P24000 19200 14400 P7>,400

PROBLEM SOL8ING Pro$* 1: a

P0

-

P134 P1344 400 00  3>28 3>28 ? P14 P1440 400 0

,

PP201600 PP201600  3>28 3>28 ? P2016 P201600 00

/#a/" /#a/"#&& #&& %) #( #(#/ #/ %/ %/ %( %( A-' A-' '& a a( a( /#'&( /#'&(#/#" #/#" #$%/(# #$%/(#/ /

%( ;#/% /a(#". T% -# ;#/% /a(#" (# $/%-#* &%" $/%'"# (a( A-' #$%/(#" *%/# (a 70 %) '(& aa $/%",+% "

a( ##*$(

P/%-#* 2 Ca& &a#& P660800  3>28 Sa#& % a,,%( P246400  3>28 T/a&a,+% "##*#" &a#& P22400 @ 16800 @ 19040 @ 8960  3>28 T%(a %($( a( I$( a( P291200  3>28 8#" P#y#$

P70800 26400 7200 P104400 31200 P>3,.00

P/%-#* 3 OUTPUT Sa#& P8M – 400000  12 Sa#& )/%* ,%&'*#( Ma/, a" F#-. 20@10  P10000  12 rasactos rasactos +eeme+ sa0es aa/ 8 ,%&'*#( 20  P10000  12 G%%"& '("/a G%%"& (a!# a& $a*#( (% ,/#"'(%/& IPUT AT P/,a&# %) %%"& &$$'#& )/#'(>'&/a,# Ca$'(a %%"& ASSUME USEFUL LIFE OF 6 EARS

P912000 36000

24000 6000 3600

P981600

82080 2750

84830

P1100000  12 > 48 *%&. 8AT PAABLE

P/=4,>>0

P/%-#* 4 B&'#&& (a

31 !

AT

OPT



G/%&& /#,#'$(& ,%#,+%& )/%* H%(# /%%*& D'' a O(#/ /###& T%(a AT G/%&& /#,#'$(& ,%#,+%& )/%* "'&,% %$#/a+%& W18 TOTAL B'(in(( T#%(

P1800000 3150000 700000 P5650000 12

P6 P678000 P504000 P1,1/.,000

P/%-#* 5 O($( a( % /%&& /#,#'$(& ,%#,+%& )/%* ,%&(/,+% ,%(/a,(& '( B%-a"& C'( C%"% = U/-a D#N(. P30M  12 L#&& I$( a( % $a*#(&>a"a $a*#(&>a"a,#& ,#& *a"# (% A$a P12M  90  12 Ca/'# P4MP1M  12 D#(a P2M  12 8AT PAABLE, 1(" D' D '#r"r .016

P3600000 1296000 360000 240000 P1,>06,000

Pro$* 4: Rato o* !nital Payen% o&er Sellin$ Price:

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L%( A P25000  12  P25000  12 L%( B P200000  12 L%( C P40000  12 P20000  12 8#" P#y#$

%. 2013 P3000 24000 4800 P31,/00

D#,. 2013 P3000  2400 P7,600

Pro$* >: O($( a( &,%% &$$'#& a" ' '(#*& P560000 @ 336000  3>28 I$( a( D'/#,( aX/'-(a-# (% a(a-# &a#& P406000  3>28  %( %( "'/# "'/#,( ,(  aX/' aX/'- -(a (a- -# # (% (% a(a a(a- -# # &a# &a#&& P21 P211 112 12  3>2 3>28 8  800 800>1 >10 000 00   8AT PAABLE

P96000 43500 18 1809 09.6 .60 0 P70,4=0560

560000>1.12 560000>1.12 @ P336000>1.12 P336000>1.12 ? P800000 a(a-# &a#& a(a-# &a#& @ a( ##*$( &a#& &a# %) -%%!& ? P1000000

32 !



CHAPTER =  OTHER PERCENTAGE TAXES TRUE OR FALSESET A 1. F 6. F 2. T 7. F 3. T 8. T 4. F 9. T 5. F 10. F TRUE OR FALSESET B 1. T 6. F 2. T 7. F 3. F 8. T 4. T 9. F 5. T 10. F MODIFIED IDETIFICATIO 1. A 6. C 2. A 7. A 3. E 8. A 4. C 9. C 5. C 10. C MULTIPLE CHOICE 1. C 21.   2. D 22. A 3. D 23. B 4. C 24. D 5. A 25. B 6. A 26. C 7. D 27. B 8. A 28. C 9. A 29. C 10. C 30. A 11. D 31. B 12. A 32. D 13. B 33. D 14. C 34. D 15. D 35. D 16. B 36. A 17. B 37. A 18. D 38. A 19. A 39. D 20. B 40. A

33 !

11. 12. 13. 14. 15.

T F F T T

16. 17. 18. 19. 20.

T F Fa&# &%" -# 20 "a& F T F

11. 12. 13. 14. 15.

T F F T T

16. 17. 18. 19. 20.

T T T T T

11. 12. 13. 14. 15.

C A A A A

16. 17. 18. 19. 20.

A C C C C

21. 22. 23. 24. 25.

C A A A B

41. 42. 43. 44. 45. 46. 47. 48. 49. 50. 51. 52. 53. 54. 55. 56. 57. 58. 59. 60.

D C A D D C B C B B A C C C A A  C C A

61. 62. 63. 64. 65. 66. 67. 68. 69. 70. 71. 72. 73. 74. 75. 76. 77. 78. 79. 80.

A D D B C D A A B C  A C C C C D D D C A

81. 82. 83. 84. 85. 86. 87. 88. 89. 90.

C B D D B B A D D D



Supportn$ "opu%atons: "opu%atons:

No5 7

9P280000 @ P220000  3 ? P15000

No5 4

9P50000 @ 100000 – 75000  3 ? P2250

%. 7 G/%&& /#,#'$(& /#)#/ (% Z6  a( /a(# O($( a( I$( a( P11200  3>28 a( Paa-#

P75000 12 P9000 1200 P7800

No5 14 P6.5M  12 ? P780000 No5 1> P66000  3 ? P19800 No5 1/ 9P400000 @ P100000  12 ? P60000 No5 .. P10M  2.5 ? P250000 No5 .. P10M  1.5 ? P150000 No5 .4 9P10M  40 3 ? P120000 No5 .> 9P10M – P6M  30 ? P1800000 No5 30 S-#,( (% a( %( )/a,'&# (a No5 36 AR -#. R###& P4M @ P1M AR #" G/%&& /#,#'$(& a( /a(# B'(in(( "#% d'

P600000 5000000 960000 P4640000 12 P774,/00

No5 37 Co7ere+ b1 he Drachise AR -#. R## R###& #& AR #" G/%&& /#,#'$(& F/a,'&# (a /a(# B&'#&& (a "# To"#$ B'(in(( T#%(

P600000 4000 4000000 000 800000 P3800000 2 P76000 P1>4,/00

< Co7ere+ b1 he Drachise AR -#. R## R### #&& AR #" G/%&& /#,#'$(& F/a,'&# (a /a(# B&'#&& (a "#

P 1000 100000 000 0 160000 P840000 12 P100800

No5 6. P3M  10 ? P300000 No5 36 O($( a( P5M  12 I$( a( P300000  12  P800000  12  5>8  8#" P#y#$

P600000 36000 60000 P706,000

No5 6/ OPT

GRT

I(#/#&( ',%*# )/%* #"' a,+'+#& )/%* '&(1*#(& '( /#*a'' (#/*& %)

34 !



F'# #a/& a" #&& M%/# (a # #a/& D''"#"& = #'( &a/#& )/%* &-&'"'a/'#& R#(a ',%*# #( (/a"' a'& To"#$ Gro(( Ri"( T#%

5000000 3000000 1000000 500000 300000

5 1 0 7 7

P250000 30000 0 35000 21000 P334,000

P880000 220000 660000 110000 30000 220000

OPT 7 7 7 7 0 7

GRT P61600 15400 46200 7700 0 15400

700000 800000

5 1

35000 8000 P1/=,300

%. 49 R#(a& )/%* &a)#( "#$%&'( -%#& #( )%/#' #,a# a'& #( (/a"' a'& )/%* (/a"' %) &#,/'+#& T/&( )##& D''"#"& )/%* "%*#&+, ,%/$%/a+%& O(#/ &#/',# )##& I(#/#&( ',%*# )/%* #"' a,+'+#& )/%* '&(1*#(& '( /#*a'' (#/*& %) F'# #a/& a" #&& M%/# (a # #a/& To"#$ Gro(( Ri"( T#%

No5 70 I(#/ I(#/#&( #&( ',%*# ',%*# '( '( *a(/ *a(/'( '( %) #&& #&& (a (a  5 #a/& #a/& P500 P50000 000 0  5 5 R#(a& P500000  7 #( (/a"' (/a"' %&& ? non i) n" "r#din- -#in, "#% i( > Gro(( ri" "#% 9GRT;

P2500 P25000 0 35000

P40,000

No5 71 I(# I(#/# /#&( &( ',% ',%*# *# '( '( *a( *a(/' /'( ( %) #&& #&& (a (a 5 #a #a/& /& P1M P1M  5 5 R#(a& P500000  7 #( (/a"' a'

P50 P5000 000 0 35000

J200000 – 100000 #( (/a"' %&& $/#'%& *%(  7K Gro(( ri" "#% 9GRT;

700 000 P=.,000

No5 7. I(#/#&( '(#" a" $a'" P100000  5 #a/&  1 A" A"&( &(#" #" a*% a*%(( %) %) (a (a "# "# (% (% $/# $/#(# (#/* /*' 'a+ a+% % P100 P1000 000 00  5 #a/ #a/&&  5 5 T#% P#y#$

P5000 250 25000 00 P.0,000

No5 77 P2M  10 ? P200000 No5 74 JP500000  1230000012K ? P24000 No5 7/ P2M  2 ? P40000 No5 46 P7.5M  18 ? P1350000 No5 47 P5M  18 ? P900000 No5 44 %( &-#,( (% OPT. G/%&& R#,#'$(& ] 1919500 (#/#)%/# C '& &-#,( (% a( %( OPT No5 >0 ERRATUM: CHANGE THE DUESTION TO TO : YHICH OF THE FOLLOYIG IS SUBECT TO PERCETAGE TA^

35 !



a  %( &-#,( (% $#/,#(a# (a (a %/ a -&'#&& (aVV O#/&#a& ,%**',a+% in%o %+e P+ilippines, - a" " "  &-#,( (% a( , – %( %/" %/ %/'#(a %/'#(a ,a*$'%&'$. S-#,( (% 10 OPT

No5 >7 P350000  .005 ? P1750 No5 >> JP1500000  P1000000  12K ? P60000 No5 >= 120000 – 30000  _  P30  1 ? P13500 Ra+% ? 45>75 ? 40 IPO r#"  1 No5 /0 2000  P25  6 ? P2000

Ra+% ? 2>75 ? .54>

IPO r#"  6

No5 /1 6000  P40  5007 ? P1200 PROBLEM SOL8ING Pro$* I: G/%&& /#,#'$(&$a&&##/ %$#/a+%& P8000000  3 CCT G/%&& /#,#'$(& ,a/% %$#/a+%& P5M  75  12a( R#(a& P2M  12a( To"#$ '(in(( "#%(

P240000 450000 240000 P=30,000

Pro$* II: 1;

3 OPT % a( ##*$( &a#& GR`1919500 = %a( %a( /#'&(#/#" ?P1.4M  3 ? P6.,000

.;

AT AT ? P1400000  12 ? P14/,000

Pro$* III: 1;

Ino Ino* * "#% "#% d' d'  P4.7 P4.7,0 ,000 00 Sub8ec o />!) 6PB: GR Pa Pa&&##/ %$ %$#/a+%&P'&.  GR ,a/% %$#/a+%&P'&.  T%(a GPB /a(# Sub8ec o CI 'RR !/"5: D#*//a# "# "#(#+% +% a a" O( O(#/ )# )##&  E$#&#& % "#*//a# )##&  I,%*# &-#,( (% CIT CIT /a(# To"#$ ino* "#% d'

P10000000 6000000 16000000 .57 100000 000 250000 750000 30

P400000

225000 P4.7,000

ECLUDED ECLUDED FROM GPB RR152003 $/%'"#& (a( "#*//a# "#*//a# )##& )##& "#(#+% )##& a" %(#/ ,a/#& /#a+ (% '-%" a" %(-%" ,a/%#& a/# ,%&'"#/#" a& ',%*# "#/'#" )/%* &%/,#& '(' (# P''$$'#& &-#,( (% /#a/ (a /a(#&.

.; Ino Ino* * "#% "#% d' d'  P76 P765000 Sub8ec o /) 6PB '?+er a a% rea1: GR Pa Pa&&##/ %$ %$#/a+%&P'&.  GR ,a/% %$#/a+%&P'&.  T%(a GPB /a(# Sub8ec o CI 'RR !/"5:

36 !

P10000000 6000000 16000000 .

P320000



D#*//a# "# "#(#+% +% a a" O( O(#/ )# )##& E$#&#& % "#*//a# )##&  I,%*# &-#,( (% CIT CIT /a(# To"#$ ino* "#% d' 

100000 000 250000 750000 30

225000 P767,000

%$#/a+%& %/''a+ ' (# P''$$'#& 3; B'(i B'(in n(( (( "#% "#% d' d' ? 3 CCT % ,a/% %$#/a+%& ? 3  P6M ? P1/0,000

6;

Ino* Ino*  "#% "#% d'  P3,. P3,..7, .7,000 000 

A %'# ,a//'#/ '& %( a '(#/a+%a ,a//'#/. A&&*# (#/#)%/# (a( (# ',%*# $/%'"#" #/# ' (# a(/# %) ,%**'&&'% ',%*# )/%* '(#/a+%a ,a//'#/&.



)%/#' ,%/$%/a+%. S',# (# %/''a A %'# ,a//'#/ *a -# a "%*#&+, %/ /#&'"#( )%/#' $/%-#* $#/(a'& (% a '(#/a+%a ,a//'#/ /#&'"#( )%/#' )%/#' ,%/$%/a+% (# %'# ,a//'#/ $/%'"#" ' (# $/%-#* &%" -# (/#a(#" a& a /#&'"#( )%/#' ,%/$%/a+% (aa-# % % '(& ',%*# )/%* &%/,#& '(' (# P''$$'#&.

Soluton:

e icome sub8ec o CI: GR Pa Pa&&##/ %$ %$#/a+%&P'&. GR ,a/% %$#/a+%&P'&.  D#*//a# "# "#(#+% +% a a" O( O(#/ )# )##&  E$# E$#& &#& #&$ $a& a&&# &# #/ #/ %$#/ %$#/a+ a+% %& &P P' '&. &.  E$#&#&,a/% %$#/a+%&P'&.  E$#&#& % "#*//a# )##&  CIT /a(# Ino* "#% d' 

7;

P10000000 6000000 100000 000 40 4000 000 000 00 2000000 250000

P10750000  30 P3,..7,000

B'(in B'(in(( (( "#% "#% d' d' 9oi 9oin n #rr #rri ir; r;  P2040000 GR )/ )/%* Pa& Pa&&# &# #/ #/ %$# %$#//a+% a+%&P &P '&. '&. GR )/%* ,a/% %$ %$#/a+%&P'&.  D#*//a# "#(#+% a" O(#/ )##&  a( /a(# B'(in(( "#% d' 

P10 P1000 000 0000 000 6000000 1000000

P17000000 12 P.,060,000

Pro$* I8: 15

a'& (a %) P2500. P0. %( &-#,( (% -&'#&& (a -( &-#,( (% a ,a$'(a a'& J5000 &.  P50 – P200000 ? P50000 ,a$'(a a'  5CGT ? P2500 CGT

.5

-&'#&& (a a& # a& ',%*# (a CGT. CGT. T# (/a&a,+% (/a&a,+% /#&(#" /#&(#" (% a %&& P0. %( &-#,( (% -&'#&& a*%+ (% P75000 #,# %( &-#,( (% CGT. P/,a&# P/',# ? P50>&a/# S.P.?P35>&a/# S.P.?P35>&a/# L%&& ? P15>&a/#

35

S-#,( (% P4,000 #$' #ddd "#% J5000 &.  P50 – P200000 ? P50000 ,a$'(a a'  12 ? P6000

65

S-#,( (% OPT &(%,! (/a&a,+% (a %) P400 ,%*$(#" a& )%%& P120000  .005 ? P600

37 !



75

OPT ? 5000 &a/#&  P18  .005 ? P670

1.

P3,000 OPT.

/a+%?10>35?28.5 /a+%?10>35?28.5  IPO /a(#? 2 Ta "# %?P150000 %?P1500 00  2 ? P3000

2.

P100 OPT.

P20000  .005

1.

P1,073,000 OPT 9#*'(*n" "#%; .

2.

P1,073,000 OPT5

3.

P>.0,000 OPT

4.

P77,700 OPT.

P1850000  3

5.

P10/,000 8#" .

P1850000  12 – JP750000  12 @ P224000  3>28K

15

P471 471,.7 ,.70

Pro$* 8:

Pro$* 8I: P5850000  18

S-#,( % (% a -&'#&& (a "# %) 18 OPT. P4000000  18

Pro$* 8II: P4M @ 3.5M @ 775000  > ? P579250 P6M @ 1.2M  1 ? P72000

.5

P7>/ 7>/,70 ,700 JP2.8M @ 3.3M @ 825000 @ 325000 – 150000K  > ? P497000 P7.2M @ 950000  1 ? P81500

38 !



transfer-business-taxation-tabag-garcia-3rd-edition.pdf

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