Basic Principles and Concepts only

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1. What general donor's tax rate does Section 99(A), as amended by TRAIN, impose on the annual taxable excess? Multiple Choice Easy
2. What period does Section 99(A) use to aggregate a donor's gifts for its general annual computation? Multiple Choice Easy
3. Under Section 99(A)'s general computation, what annual exempt-gift amount is applied before the 6% rate? Multiple Choice Easy
4. In 2026, a donor makes P750,000 in cash gifts. Assume valid completed gifts, no deductions, special exemptions, credits… Multiple Choice Medium
5. A donor's only completed cash gift for 2026 totals exactly P250,000. Assume no special adjustment. What is the donor's … Multiple Choice Medium
6. In January 2026, a donor gives P200,000 to a nephew. In June, the same donor gives P300,000 to an unrelated friend. Ass… Multiple Choice Hard
7. A donor's only 2026 completed cash gift is P1,250,000 to an unrelated friend. No deductions, special exemptions, or cre… Multiple Choice Hard
8. A donor makes three completed cash gifts of P150,000 each to three different persons during 2026. Assume no other gifts… Essay Medium
9. Two individuals each independently donate P250,000 of their own money during 2026. Neither makes any other gift, and at… Essay Medium
10. Explain why an adviser should not use a 30% general stranger rate for a completed 2026 cash gift merely because the don… Essay Medium
11. Does Section 98 limit donor's tax to gifts made directly, excluding every indirect gift? Multiple Choice Easy
12. Does the basic donor's-tax property scope include intangible personal property? Multiple Choice Easy