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Tax Baniqued

This document is the syllabus for a donor's tax course at the University of the Philippines College of Law. It outlines the 7 topics that will be covered in the course: 1) the meaning of a "gift", 2) valuation of gifts, 3) transfer for less than adequate consideration, 4) exempt gifts, 5) foreign tax credit, 6) who the donor's tax is imposed on, and 7) administrative aspects including tax rates, filing requirements, payment deadlines, and consequences of non-payment. Each section lists the relevant sections of the National Internal Revenue Code and other legal citations that will be discussed pertaining to that topic.

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0% found this document useful (0 votes)
206 views2 pages

Tax Baniqued

This document is the syllabus for a donor's tax course at the University of the Philippines College of Law. It outlines the 7 topics that will be covered in the course: 1) the meaning of a "gift", 2) valuation of gifts, 3) transfer for less than adequate consideration, 4) exempt gifts, 5) foreign tax credit, 6) who the donor's tax is imposed on, and 7) administrative aspects including tax rates, filing requirements, payment deadlines, and consequences of non-payment. Each section lists the relevant sections of the National Internal Revenue Code and other legal citations that will be discussed pertaining to that topic.

Uploaded by

MR
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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UNIVERSITY OF THE PHILIPINES

COLLEGE OF LAW
Diliman, Quezon City

Syllabus on
DONOR’S TAX
Prof. Carlos G. Baniqued

I. MEANING OF “GIFT”
Revenue Regulations No. 2-2003, Dec. 16, 2002
Sec. 104, NIRC
Tuzon v. CA, 212 SCRA 739, 745 (1992)
Pirovano v. CIR, 14 SCRA 832 (1965)
Tang Ho v. Board of Tax Appeals, 97 Phil. 889
Commissioner v. Duberstein
363 U.S. 278
Old Colony Trust Co. v. Commissioner
279 U.S. 716, 730
Bogardus v. Commissioner
302 U.S. 34, 41, 43
Robertson v. U.S.
343 U.S. 711, 714
Commissioner v. Lo Bue
351 U.S. 243, 246
Starks v. Commissioner
25 TCM 676 (1966)

II. VALUATION OF GIFTS


Sec. 102, NIRC

III. TRANSFER FOR LESS THAN ADEQUATE CONSIDERATION


Sec. 100, NIRC
CIR v. B.F. Goodrich Phils., Inc. (now Sime Darby International Tire Co., Inc. and
the Court of Appeals, 303 SCRA 546 (1999)

IV. EXEMPT GIFTS


Sec. 101, NIRC
BIR Rul. No. 171-98, Dec. 3, 1998
BIR Rul. No. 56-99, April 23, 1999

V. FOREIGN TAX CREDIT


Sec. 101(C), NIRC
A. Per Country Limitation
B. Global Limitation

VI. ON WHOM IMPOSED


Sec. 98(A), NIRC
2

VII. ADMINISTRATIVE
A. Tax Rates
Sec. 99, NIRC
B. Donor’s Tax Return
Sec. 103(A), NIRC
C. Payment of Donor’s Tax
Sec. 103(B), NIRC
D. Consequences of Non-Payment of Donor’s Tax
Sec. 248, NIRC
Sec. 249, NIRC
Sec. 95, NIRC
Sec. 97, NIRC

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