Aliguyon, a non-resident citizen donor, made the following donations: April 20, 2020 - To Phun Ki,...

 

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Aliguyon, a non-resident citizen donor, made the following donations: April 20, 2020 - To Phun Ki, a property in Indonesia (donor's tax paid in Indonesia, P70,000), fair market value, P500,000. May 5, 2020 - To Baguilat, an electoral candidate for Philippine Senator, P1,000,000 for his campaign August 13, 2020 - To Kilacio, sister in the Philippines, a personal property worth P200,000. December 22, 2020 - To Bugan, fiancée in the Philippines, a property with an unpaid mortgage of P50,000 assumed by Bugan, fair market value of P450,000. January 1, 2021 - To his father Pumbakhayon, cash of P3,000,000. Required: Compute the donor's tax payable/refundable for years 2020 and 2021. Aliguyon, a non-resident citizen donor, made the following donations: April 20, 2020 - To Phun Ki, a property in Indonesia (donor's tax paid in Indonesia, P70,000), fair market value, P500,000. May 5, 2020 - To Baguilat, an electoral candidate for Philippine Senator, P1,000,000 for his campaign August 13, 2020 - To Kilacio, sister in the Philippines, a personal property worth P200,000. December 22, 2020 - To Bugan, fiancée in the Philippines, a property with an unpaid mortgage of P50,000 assumed by Bugan, fair market value of P450,000. January 1, 2021 - To his father Pumbakhayon, cash of P3,000,000. Required: Compute the donor's tax payable/refundable for years 2020 and 2021.

Answer rating: 100% (QA)

To compute the donors tax payablerefundable for the years 2020 and 2021 we will use the relevant information and tax rates applicable in the Philippin... View the full answer