If the decedent was a nonresident alien and his country exempts a Filipinocitizen from estate tax, how much of his assets would be subject to reciprocity? P1,000,000 P800,000 P600,000 P350,000
If the decedent was a nonresident alien and his country exempts a Filipinocitizen from estate tax, how much of his assets would be subject to reciprocity? P1,000,000 P800,000 P600,000 P350,000
Chapter27: The Federal Gift And Estate Taxes
Section: Chapter Questions
Problem 6DQ
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Question
If the decedent was a nonresident alien and his country exempts a Filipinocitizen from estate tax, how much of his assets would be subject to reciprocity?
P1,000,000
P800,000
P600,000
P350,000
Transcribed Image Text:If the decedent was a nonresident alien and his country exempts a Filipino
citizen from estate tax, how much of his assets would be subject to
reciprocity? *
The gross estate of a decedent included the following:
Cost
P1,600,000
1,800,000
1,000,000
4,000,000
Fair Value
P2,000,000
1,500,000
600,000
3,500,000
200,000
250,000
Land & building, Philippines
House and lot, UK
Personal properties, UK
House and lot, Philippines
Shares of stocks, UK corp.
Shares of stocks, domestic corp.
(certificate kept in UK)
Shares of stocks, domestic corp.
(certificate kept in Philippines)
Franchise exercised in the Philippines
Franchise exercised in UK
Receivables, debtor is from UK
Receivables, debtor is from the Philippines
100,000
200,000
150,000
50,000
50,000
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