CHAPTER 15 T/F

Question 1

Donations of property not within the Philippines by a resident alien is not subject to a Philippine donor’s tax.

Answer 1

TRUE

Question 2

The property donated by a Filipino citizen that is located in another country may be subject to donor’s tax twice.

Answer 2

TRUE

Question 3

Tax credit is allowed to nonresident alien on donation of property in a foreign country.

Answer 3

FALSE

Question 4

Foreign donor’s tax credit is subject to limitations.

Answer 4

True

Question 5

Filing of donor’s tax return is not required for indirect donation.

Answer 5

FALSE

Question 6

Donor’s tax is paid 30 days after the return is filed.

Answer 6

FALSE

Question 7

The name of donee is not to be disclosed in the donor’s tax return for confidentiality.

Answer 7

FALSE

Question 8

The Commissioner may require other information in the donor’s tax return.

Answer 8

TRUE

Question 9

Donee-institution may use more than 30% of donation for administration purposes.

Answer 9

FALSE

Question 10

To be exempt from donor’s tax on donation to qualified donee-institution, a donor engaged in business shall give a notice of donation on every donation worth at least P50,000.

Answer 10

TRUE