On each of the following donations, determine the donor's tax due and payable of Mr. and...

 

  

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On each of the following donations, determine the donor's tax due and payable of Mr. and Mrs. XYZ, residing in Bacoor City. pProblem Il- On March 1, 2020, P600,000 worth of a car when purchased 2 years ago on account of passing the CPA Board Exam. Per appraiser, value is being lowered down by 20% every year. On March 18, 2020, several health equipments/supplies worth P3,000,000 given to PGH intended to combat COVID 19 public health emergency. On May 30, 2020, a parcel of land worth P 1,000,000 to Mr. XYZ's brother where the donor would assume the mortgage indebtedness of P 100,000. On June 12, 2020, P 700,000 worth of shares of stocks of a resident foreign corporation where 80 % of its operation is in the Philippines. On October 25, 2020, the donors also made the following transfer of properties: Consideration received P 2,000,000 FMV at the time of transfer P 3,000,000 Property Land - QC (business asset) Machineries (business asset) Condo unit (capital asset) Car (capital asset) 3,000,000 4,000,000 4,000,000 3,000,000 500,000 1,200,000 On January 7, 2021, P 1,000,000 bank deposits in Metrobank, US branch. On February 14, 2021, a TV set worth P 100,000 to their alma mater DLSU-D, with the agreement that the donee will pay the remaining 6/12 months credit card balance. Problem II- Donor's Tax Module (14 points) Mr. XYZ Mrs. XYZ Donor's tax due and payable on: March 1, 2020 March 18, 2020 May 30, 2020 June 12, 2020 October 25, 2020 January 7, 2021 February 14, 2021 On each of the following donations, determine the donor's tax due and payable of Mr. and Mrs. XYZ, residing in Bacoor City. pProblem Il- On March 1, 2020, P600,000 worth of a car when purchased 2 years ago on account of passing the CPA Board Exam. Per appraiser, value is being lowered down by 20% every year. On March 18, 2020, several health equipments/supplies worth P3,000,000 given to PGH intended to combat COVID 19 public health emergency. On May 30, 2020, a parcel of land worth P 1,000,000 to Mr. XYZ's brother where the donor would assume the mortgage indebtedness of P 100,000. On June 12, 2020, P 700,000 worth of shares of stocks of a resident foreign corporation where 80 % of its operation is in the Philippines. On October 25, 2020, the donors also made the following transfer of properties: Consideration received P 2,000,000 FMV at the time of transfer P 3,000,000 Property Land - QC (business asset) Machineries (business asset) Condo unit (capital asset) Car (capital asset) 3,000,000 4,000,000 4,000,000 3,000,000 500,000 1,200,000 On January 7, 2021, P 1,000,000 bank deposits in Metrobank, US branch. On February 14, 2021, a TV set worth P 100,000 to their alma mater DLSU-D, with the agreement that the donee will pay the remaining 6/12 months credit card balance. Problem II- Donor's Tax Module (14 points) Mr. XYZ Mrs. XYZ Donor's tax due and payable on: March 1, 2020 March 18, 2020 May 30, 2020 June 12, 2020 October 25, 2020 January 7, 2021 February 14, 2021