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Donor’s Tax is a tax on a donation or gift, and is imposed on the gratuitous transfer of property between two or more persons who are living at the time of the transfer. It 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.
Donor’s tax is imposed upon any person, natural or juridical, resident or non-resident, who transfers or causes to transfer by gift or donation, whether direct or indirect, in trust or otherwise, real, personal, tangible or intangible property.
Aug 24, 2021 · To regulate some malpractices and other forms of tax evasions in the Philippines, the government imposed a tax called “Donor’s tax”. Let’s start to discuss what’s new on our “ donor’s tax train law”.
Dec 27, 2022 · Donor’s tax is an excise tax imposed on the privilege to transfer property by way of gift based on an act of liberality. Quezon City, Philippines (02)7745-4391
Oct 7, 2021 · This situation is discussed in Revenue Memorandum Circular (RMC) No. 94-2021 dated July 21 which was issued by the Bureau of Internal Revenue on Aug. 10, clarifying the donor’s tax treatment of an heir’s renunciation of his share from the specific property forming part of the estate of the decedent.
Feb 5, 2019 · The Bureau of Internal Revenue (BIR) has recently issued the implementing guidelines covering Donor’s Taxes in the Philippines, applicable starting 2018 under the TRAIN tax bill signed into law by Pres. Rodrigo Duterte. Here’s a copy of the relevant BIR Revenue Regulation on Donor’s Taxes.
Apr 18, 2023 · As of recent updates, the donor’s tax rate is set at a flat rate of 6% for donations exceeding ₱250,000 annually. This threshold applies cumulatively over the course of a calendar year, meaning that the first ₱250,000 of your total donations is not subject to the donor’s tax.
