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Section 28. Section 99 of the NIRC, as amended, is hereby further - Taxation Laws (compiled codal)

Section 28. Section 99 of the NIRC, as amended, is hereby further of Taxation Laws (compiled codal). Section 28. Section 99 of the NIRC, as amended, is hereby further amended to read as follows: "Sec. 99. Rate of Tax Payable by Donor - "(A) In Ge

  • Subjects 9 Bar syllabus groups
  • Codals 48 Primary legal sources

Taxation Laws (compiled codal)

Section 28. Section 99 of the NIRC, as amended, is hereby further amended to read as follows:

"Sec. 99. Rate of Tax Payable by Donor -

"(A) In General. - The tax for each calendar year shall be six percent (6%) computed on the basis of the total gifts in excess of Two hundred fifty thousand pesos (₱250,000) exempt gift made during the calendar year.

"(B) Any contribution in cash or in kind to any candidate, political party or coalition of parties for campaign purposes shall be governed by the Election Code, as amended."

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