1. The camp of President Marcos refuses to pay estate tax worth P24 billion pesos (now P200 billion) because the properties are subject to numerous pending court cases questioning the late President Marcos' ownership or interests in several properties which make the total value of his gross estate, and the consequent estate tax due, incapable of exact pecuniary determination at this time. Thus, BIR'S assessment of the estate tax are premature. Should these properties be included in the gross estate of President Marcos? 2. Days before Mr. Cabidog died, he instructed his friend, Abanilla, to sell his Kalanggaman mansion worth P500,000,000 to Mr. Chan, who happens to be his dearest friend. The selling price was estimated to be at around P10,000,000. The ownership was transferred to Mr. Chan 3 days before Mr. Cabidog's death. During the settlement of the estate of Mr. Cabidog, the BIR learned of the sale of the mansion and proceeded to include the same in the decedent's gross estate for purposes of computing his estate tax. The estate administrator, Mr. Abanilla, refuses to include the mansion as part of the gross estate alleging that the same was no longer owned by the decedent, neither does the decedent retain any interest thereon, upon his death. Nevertheless, the Bureau still proceeded with the inclusion on the basis of the advice of their legal counsel. Should the mansion be included as part of the gross estate of Mr. Cabidog? 3. X took out a 20M life insurance policy with AAA Life Insurance Co. He designated his only child as the sole beneficiary of the proceeds. Upon X's death, his administrator is contemplating of excluding proceeds from the computation of his gross estate to minimize the estate tax liability of the decedent. The BIR, on the other hand, is insisting that the 20M should be included as part of the gross estate and the estate tax be imposed thereon. What is the proper tax treatment of the insurance proceeds. 4. Experts estimate that the Imelda Marcos' jewelry collection to be worth billions of pesos. These jewelry pieces were received by Mrs Marcos as gifts during their mariage. Estimating the real value of the jewels is extremely difficult for various of variables. The prices of a piece of jewel depends on many factors like rarity and historical significance. Assuming the Marcoses are married under the Absolute Community of Property Regime, how should the jewelry be classified for estate tax purposes? 5. Is roasted chicken in Andoks Vatable or VAT exempt? 6. Bruce owns a car shop. The shop has a building. to house its equipment. When his only son, Steve, got married, he decided to donate the building to his son and his son's wife for their family home. Bruce paid the 6% donor's tax to the BIR. However, the BIR is asking for 12% VAT on top of the 6% donor's tax. Should Bruce pay. additional 12% VAT on his donation? 7. Tony divided his lot into 8 and sold each to SMDC. There were 8 distinct sale transactions and contracts made on different dates. Tony paid the 6% CGT to the BIR but the latter is collecting a 12% from each of the 8 sale transaction. What is the proper tax treatment of the sale? 8. The receipt for your purchase of a mobile phone charger shows that you just bought it for P 2,100. The receipt shows that the total amount is broken down between the selling price of the charger, which is P 2,050, and the value-added tax, which is P 50. Is the amount of VAT correct? Explain briefly. 9. After finally passing the Bar Examinations, new lawyer was given an engagement ring worth PHP1,000,000.00 by a longtime significant other who happened to be one of the most junior sitting Justices of the Supreme Court. Their relationship has so far been platonic. Being an avid supporter of the current government, the new lawyer told the significant other that the gift would only be accepted if all taxes due have been paid. Is there any tax liability arising from the giving of the engagement ring? Explain briefly. 10. Why are you here? 1. The camp of President Marcos refuses to pay estate tax worth P24 billion pesos (now P200 billion) because the properties are subject to numerous pending court cases questioning the late President Marcos' ownership or interests in several properties which make the total value of his gross estate, and the consequent estate tax due, incapable of exact pecuniary determination at this time. Thus, BIR'S assessment of the estate tax are premature. Should these properties be included in the gross estate of President Marcos? 2. Days before Mr. Cabidog died, he instructed his friend, Abanilla, to sell his Kalanggaman mansion worth P500,000,000 to Mr. Chan, who happens to be his dearest friend. The selling price was estimated to be at around P10,000,000. The ownership was transferred to Mr. Chan 3 days before Mr. Cabidog's death. During the settlement of the estate of Mr. Cabidog, the BIR learned of the sale of the mansion and proceeded to include the same in the decedent's gross estate for purposes of computing his estate tax. The estate administrator, Mr. Abanilla, refuses to include the mansion as part of the gross estate alleging that the same was no longer owned by the decedent, neither does the decedent retain any interest thereon, upon his death. Nevertheless, the Bureau still proceeded with the inclusion on the basis of the advice of their legal counsel. Should the mansion be included as part of the gross estate of Mr. Cabidog? 3. X took out a 20M life insurance policy with AAA Life Insurance Co. He designated his only child as the sole beneficiary of the proceeds. Upon X's death, his administrator is contemplating of excluding proceeds from the computation of his gross estate to minimize the estate tax liability of the decedent. The BIR, on the other hand, is insisting that the 20M should be included as part of the gross estate and the estate tax be imposed thereon. What is the proper tax treatment of the insurance proceeds. 4. Experts estimate that the Imelda Marcos' jewelry collection to be worth billions of pesos. These jewelry pieces were received by Mrs Marcos as gifts during their mariage. Estimating the real value of the jewels is extremely difficult for various of variables. The prices of a piece of jewel depends on many factors like rarity and historical significance. Assuming the Marcoses are married under the Absolute Community of Property Regime, how should the jewelry be classified for estate tax purposes? 5. Is roasted chicken in Andoks Vatable or VAT exempt? 6. Bruce owns a car shop. The shop has a building. to house its equipment. When his only son, Steve, got married, he decided to donate the building to his son and his son's wife for their family home. Bruce paid the 6% donor's tax to the BIR. However, the BIR is asking for 12% VAT on top of the 6% donor's tax. Should Bruce pay. additional 12% VAT on his donation? 7. Tony divided his lot into 8 and sold each to SMDC. There were 8 distinct sale transactions and contracts made on different dates. Tony paid the 6% CGT to the BIR but the latter is collecting a 12% from each of the 8 sale transaction. What is the proper tax treatment of the sale? 8. The receipt for your purchase of a mobile phone charger shows that you just bought it for P 2,100. The receipt shows that the total amount is broken down between the selling price of the charger, which is P 2,050, and the value-added tax, which is P 50. Is the amount of VAT correct? Explain briefly. 9. After finally passing the Bar Examinations, new lawyer was given an engagement ring worth PHP1,000,000.00 by a longtime significant other who happened to be one of the most junior sitting Justices of the Supreme Court. Their relationship has so far been platonic. Being an avid supporter of the current government, the new lawyer told the significant other that the gift would only be accepted if all taxes due have been paid. Is there any tax liability arising from the giving of the engagement ring? Explain briefly. 10. Why are you here