timed task, need help please. thanks!about transfer taxes AST Corporation donated a piece of land to the Municipality ofPalanas, Masbate Province for the relocation site of informal settlers.The municipal government subdivided the property and awardedparcels to the settlers. Houses were also built by the nunicipalgovernment on the property.Question 1 - Was the donation by AST Corporation exempt fromdonor's tax?Question 2 - Was the awarding of parcels of land to the settlersexempt from donor's tax?Yes to bothNo to bothNo to first question and Yes to second questionYes to first question and No to second question

Introduction A tax called the "Donor's Tax" is levied when property is gratuitously transferred…

AST Corporation donated a piece of land to the Municipality of Palanas, Masbate Province for the relocation site of informal settlers. The municipal government subdivided the property and awarded parcels to the settlers. Houses were also built by the municipal government on the property. Question 1 - Was the donation by AST Corporation exempt from donor's tax? Question 2 - Was the awarding of parcels of land to the settlers exempt from donor's tax? Yes to both No to both No to first question and Yes to second question O Yes to first question and No to second question

AST Corporation donated a piece of land to the Municipality of Palanas, Masbate Province for the relocation site of informal settlers. The municipal government subdivided the property and awarded parcels to the settlers. Houses were also built by the municipal government on the property. Question 1 - Was the donation by AST Corporation exempt from donor's tax? Question 2 - Was the awarding of parcels of land to the settlers exempt from donor's tax? Yes to both No to both No to first question and Yes to second question O Yes to first question and No to second question

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter23: Exempt Entities

Section: Chapter Questions

Problem 3DQ

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