EXERCISES 11-1 House, Manila Land, Canada Car, Philippines Jewelries, Canada Domestic shares Foreign shares Gross gift Resident or citizen NRA (with reciprocity ) NRA (no reciprocity ) P1,500,00 800,00 350,00 80,00 125,00 250,00 P3,105,00 P1,500,00 - P1,500,00 - 350,00 - 350,00 - 125,00 P1,850,00 P1,975,00 - * Resident citizen, resident alien and nonresident citizen Bank deposit, Manila Franchise exercised in Philippines Shares of stock, domestic corporation Shares of stock, Indonesian Corp., 86% business in the Philippines Shares of stock, foreign corporation, with business situs in the Philippines Interest, partnership established in Philippines Gross gift 50,000 20,000 72,000 130,000 50,000 100,000 422,000 Land, Lucena City Passenger jeepney Shares of stock - traded (P105+104) / x 1,000 Shares of stock - not traded (P50 x 500) Gross gift Bigay cannot validly donate a community property without the consent of his spouse because he does not solely own the property A community property is a co-ownership of the spouses, each of them owning one-half (1/2) of its value 42 P 150,000 275,000 104,500 25,000 P 554,500