Mr. and Mrs. Lapigo, made the following donations during 2022:   Date: Feb 14 Particulars: Land worth P800,000 to their legitimate son, Caloy, on account of marriage dated February 10, 2021. The car was mortgaged for P200,000, only 50% of the mortgage was assumed by the donee.   Date: March 30 Particulars: To Mr. Lapigo's brother, his capital property (Car) worth P200,000 on account of marriage 3 months ago. They agreed that the donee shall pay the donor's tax thereon.   Based on the information above, how much is the total documentary stamp tax?

SWFT Individual Income Taxes
43rd Edition
ISBN:9780357391365
Author:YOUNG
Publisher:YOUNG
Chapter3: Tax Formula And Tax Determination; An Overview Of property Transactions
Section: Chapter Questions
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Mr. and Mrs. Lapigo, made the following donations

during 2022:

 

Date: Feb 14

Particulars: Land worth P800,000 to their legitimate son, Caloy, on account of marriage dated February 10, 2021. The car was mortgaged for P200,000, only 50% of the mortgage was assumed by the donee.

 

Date: March 30

Particulars: To Mr. Lapigo's brother, his capital property (Car) worth P200,000 on account of marriage 3 months ago. They agreed that the donee shall pay the donor's tax thereon.

 

Based on the information above, how much is the total documentary stamp tax? 

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