[TOPIC 22] DONOR'S TAX | Definition, Concepts, and the Components of Gross Gifts
Donor's tax, as an excise tax, is a tax imposed on the right of the donor to transfer properties to another for free and without consideration; hence, it is considered a privilege tax. Like estate tax, the donor's tax is computed at a 6% flat rate based on the taxable net gifts, and the tax shall accrue upon the delivery of the thing donated. But, when computing donor's tax, an exemption limit to be deducted per year for every donor is allowed, and the maximum amount is P 250,000.
Please watch this video for more discussions and illustrations.
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If you want to learn more about income taxes, please open this playlist and enjoy every video: • Income Taxation (Philippines)
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Also, if you want to learn more about business and transfer taxes, watch the following videos:
1. Overview of the National Internal Revenue Taxes: • [TOPIC 1] OVERVIEW OF THE PHILIPPINE ...
2. Basic Succession Concepts: • [TOPIC 3] BASIC SUCCESSION | Concept ...
3. Testamentary Succession: • [TOPIC 4] TESTAMENTARY SUCCESSION | S...
4. Intestate Succession: • [Topic 5] INTESTATE SUCCESSION | Shar...
5. Causes of Disinheritance: • [TOPIC 6] DISINHERITANCE | Causes and...
6. Gross Estate Valuation of Real Properties, Personal Properties, and Usufructuary Rights: • [TOPIC 7] GROSS ESTATE | Valuation of...
7. Gross Estate Valuation of Shares of Stocks: • [TOPIC 8] GROSS ESTATE | Valuation of...
8. Additions to Gross Estate: • [TOPIC 9] ADDITIONS TO GROSS ESTATE |...
9. Other Additions to Gross Estate: • [TOPIC 10] GROSS ESTATE | Other Addit...
10. Property of Relations: • [TOPIC 11] GROSS ESTATE OF MARRIED DE...
11. Estate Tax for Single and Unmarried Decedents: • [TOPIC 17] ESTATE TAX COMPUTATION | H...
12. Estate Tax for Married Decedents: • [TOPIC 18] ESTATE TAX COMPUTATION | H...
13. Estate Tax for Non-Resident Aliens: • [TOPIC 19] ESTATE TAX COMPUTATION | H...
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