Republic Acts1 min read
Section 92Sec./Art. 92
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Rates of tax payable by donor. - (a)In general. The tax for each calendar year shall be computed on the basis of the total net gifts made during the calendar year in accordance with the following schedule:
"If the net gift is:
"Over
But Not Over
The Tax Shall Be
Plus
Of Excess Over
-
P 50,000
Exempt
-
-
P50,000
100,000
1.5%
-
P 50,000
100,000
200,000
P 750
3%
100,000
200,000
500,000
3,750
5%
200,000
500,000
1,000,000
18,750
8%
500,000
1,000,000
3,000,000
58,750
10%
1,000,000
3,000,000
5,000,000
285,750
5%
3,000,000
5,000,000
-
558,750
20%
5,000,000
"(b)Tax payable by donor if donee is a stranger. When the donee or beneficiary is a stranger, the tax payable by the donor shall be ten percent (10%) of the net gifts. For the purpose of this tax, a stranger is a person who is not a:
"(i) Brother, sister (whether by whole or half blood), spouse, ancestor, and lineal descendant; or
"(ii) Relative by consanguinity in the collateral line within the fourth degree of relationship.
"(c) Any contribution in cash or in kind to any candidate, political party or coalition of parties for campaign purposes, shall be governed by the Election Code, as amended."
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