tax credit

Tax Exception on Primary Residence

Tax Exception of Primary Residence By: Atty. Bobby Gallardo Partner, Tax & Corporate Services Division KPMG Philippines Laya Mananghaya & Co. Its mixed emotions that I feel, now that my wife and I have finally reached that phase of our married life where all our children have settled down and have their own families. We now find ourselves left all alone in a modest house that was a...

Donor’s Tax

DONOR'S TAX SEC. 98. 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...

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