Question
Man Juan transferred a property with a fair value of P1,000,000. Title to the property was stipulated to be transferred immediately. Subsequently, Mang Juan died.
Man Juan transferred a property with a fair value of P1,000,000. Title to the property was stipulated to be transferred immediately. Subsequently, Mang Juan died. The propery was worth P800,000 at the date of his death
Which is correct?
A. The property is subjected to donor's tax at P1,000,000
B. The property is subjected to donor's tax at P800,000
C. The property is subjected to estate tax at P800,000
D. The property is subjected to estate tax at P1,000,000
Assume instead that the title to the property was reserved by Mang Juan until death, which is correct?
A.The property is subjected to donor's tax at P1,000,000
B. The property is subjected to donor's tax at P800,000
C.The property is subjected to estate tax at P800,000
D. The property is subjected to estate tax at P1,000,00
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