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: [ Ссылка ]
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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: [ Ссылка ]
2. Basic Succession Concepts: [ Ссылка ]
3. Testamentary Succession: [ Ссылка ]
4. Intestate Succession: [ Ссылка ]
5. Causes of Disinheritance: [ Ссылка ]
6. Gross Estate Valuation of Real Properties, Personal Properties, and Usufructuary Rights: [ Ссылка ]
7. Gross Estate Valuation of Shares of Stocks: [ Ссылка ]
8. Additions to Gross Estate: [ Ссылка ]
9. Other Additions to Gross Estate: [ Ссылка ]
10. Property of Relations: [ Ссылка ]
11. Estate Tax for Single and Unmarried Decedents: [ Ссылка ]
12. Estate Tax for Married Decedents: [ Ссылка ]
13. Estate Tax for Non-Resident Aliens: [ Ссылка ]
