Chapter 1 - Succession and Transfer Taxes

Question 1

Ways through which ownership is acquired

Answer 1

• Occupation
• Intellectual Creation
• Donation
• Tradition
• Contract
• Prescription
• Succession

Question 2

What are the types of transfer tax?

two types

Answer 2

1. Estate Tax
2. Donor’s Tax

Question 3

Taxes imposed upon the gratuitous disposition of private properties or rights.

Answer 3

Transfer taxes, defined

Question 4

Transfer that neither imposes burden nor requires consideration from transferee nor recipient.

Answer 4

Gratuitous transfer

Question 5

Donation mortis causa is subject to what type of transfer tax?

Answer 5

It is subject to Estate Tax

Question 6

Donation inter vivos is subject to what type of transfer tax?

Answer 6

It is subject to donor’s tax.

Question 7

A mode of acquisition by virtue of which, the property, rights, and obligations to the extent of the value of the inheritance, of a person are transmitted through his death to another or others either by his will or by operation of law.

Answer 7

Succession

Question 8

When is the rights to succession transmitted?

Answer 8

From the moment of death of the decedent

Question 9

What kind of tax is transfer tax?

Answer 9

Excise tax