Republic Acts1 min read
Section 98National Internal Revenue Code of 1997 (Republic Act No. 8424), Sec. 98
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Imposition of Tax. -
(A) There shall be levied, assessed, collected and paid upon the transfer by any person, resident or nonresident, of the property by gift, a tax, computed as provided in Section 99.
(B) The tax shall apply whether the transfer is in trust or otherwise, whether the gift is direct or indirect, and whether the property is real or personal, tangible or intangible.
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