Section 40 (C)(6)(c) of the 1997 Tax Code.

New BIR Guidelines on Tax-Free Exchanges

here's an article from business world online courtesy of  Margaux A. Advincula, a Tax Senior Director of SGV & Co., on the new guidelines for Tax Free Exchanges. As part of its efforts to streamline the Philippine tax system, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Order (RMO) No. 17-2016 (RMO 17-16) dated May 5, 2016 to supplement the guidelines in recording the tax-free...

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