Republic Acts1 min read
Section 102National Internal Revenue Code of 1997 (Republic Act No. 8424), Sec. 102
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Valuation of Gifts Made in Property. - If the gift is made in property, the fair market value thereof at the time of the gift shall be considered the amount of the gift. In case of real property, the provisions of Section 88(B) shall apply to the valuation thereof.
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