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Capital Gains Tax for Non-Residents in PH

The document lists 24 items of property and asks to determine whether each item is included in the decedent's gross estate. - Items located in the Philippines or having business situs in the Philippines, such as real estate, bank deposits, receivables, shares of domestic corporations, and shares of foreign corporations with business situs in the Philippines, are included in the gross estate. - Items located abroad such as real estate, bank deposits, patents exercised abroad, and shares of foreign corporations stored or having business situs abroad are not included in the gross estate.

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164 views1 page

Capital Gains Tax for Non-Residents in PH

The document lists 24 items of property and asks to determine whether each item is included in the decedent's gross estate. - Items located in the Philippines or having business situs in the Philippines, such as real estate, bank deposits, receivables, shares of domestic corporations, and shares of foreign corporations with business situs in the Philippines, are included in the gross estate. - Items located abroad such as real estate, bank deposits, patents exercised abroad, and shares of foreign corporations stored or having business situs abroad are not included in the gross estate.

Uploaded by

jangjang
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© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Problem 1: (Gross Estate – Situs) From the list of properties shown below, determine whether or not

the property is included in the decedent’s gross estate


      NRA
Citizen
(resident/non-
Item resident) or With W/out
No. Particulars Resident alien reciprocity Reciprocity
1 BPI deposit- Hongkong Branch      
2 BPI deposit- Philippine Branch      
3 Cars- Indonesia      
4 Cars- Philippines      
5 Foreign bank- Philippine Branch      
6 Foreign bank- USA Branch      
7 House and lot (Family Home) – Japan      
8 House and lot (Family Home) – Manila      
9 Parcel of Land – Indonesia      
10 Parcel of Land –Makati      
11 Patents and copyrights exercised in France      
12 Patents and copyrights exercised in the Philippines      
13 Receivables- debtors from Hongkong      
14 Receivables- debtors from Philippines      
15 Rest house - Baguio City      
16 Rest house – Malaysia      
Shares of stock of domestic corporations. The certificates
17 are stored in Germany      
Shares of stock of domestic corporations. The certificates
18 are stored in the Philippines      
Shares of stock of foreign corporations, 80% of its
19 operations is in the Philippines      
Shares of stock of foreign corporations, 90% of its
20 operations is in the Philippines      
Shares of stock of foreign corporations. The certificates
21 are stored in London      
Shares of stock of foreign corporations. The certificates
22 are stored in the Philippines      
Shares of stocks of foreign corporations which acquired
23 business situs in the Philippines      
Shares of stocks of foreign corporations which acquired
24 business situs in USA      

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