Please solve with Explanation and Do not Give Solution in image format Solution: Philippine Tax Law on Transfer and Business Taxation.Problem 1:Below are the transfers made by the decedent before he died:Transfer ATransfer B Transfer C Transfer DFair value at the time of transfer P10,000,000P1,500,000 P2,500,000 P250,000Consideration received2,000,000 1,000,000 3,000,000 None7,500,000 2,000,000 2,000,000Fair value at the time of deathRequired: For purposes of estate taxation, determine the amount to be included in the gross estate.Problem 2:A Filipino donor made a donation for the current year:• Cash of P750,000 to his daughter.• House and lot valued at P2,500,000 to his beloved girlfriend.• Car with a value of P1,250,000 to his brother.Required: Calculate the donor's tax for the year.P300,000

Gross estate is the amount transferred upon the death of decedent to legal owner of that and fair…

Solution: Philippine Tax Law on Transfer and Business Taxation. Problem 1: Below are the transfers made by the decedent before he died: Transfer A Transfer B Transfer C Transfer D Fair value at the time of transfer P10,000,000 P1,500,000 P2,500,000 P250,000 Consideration received 2,000,000 1,000,000 3,000,000 None 7,500,000 2,000,000 2,000,000 P300,000 Fair value at the time of death Required: For purposes of estate taxation, determine the amount to be included in the gross e Problem 2:

Solution: Philippine Tax Law on Transfer and Business Taxation. Problem 1: Below are the transfers made by the decedent before he died: Transfer A Transfer B Transfer C Transfer D Fair value at the time of transfer P10,000,000 P1,500,000 P2,500,000 P250,000 Consideration received 2,000,000 1,000,000 3,000,000 None 7,500,000 2,000,000 2,000,000 P300,000 Fair value at the time of death Required: For purposes of estate taxation, determine the amount to be included in the gross e Problem 2:

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter12: Corporations: Organization, Capital Structure, And Operating Rules

Section: Chapter Questions

Problem 19P

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