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RR No 17-18 Estate and Donor's Tax

This document amends Revenue Regulations No. 12-2018 by revising Section 13 on the valuation of gifts made in property. The amendment specifies that the valuation of gifts in the form of property shall follow the rules set in Section 5 of the regulations, and that the reckoning point for valuation shall be the date when the donation is made. The regulations were approved by the Secretary of Finance and take effect immediately.

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Gil Pino
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110 views1 page

RR No 17-18 Estate and Donor's Tax

This document amends Revenue Regulations No. 12-2018 by revising Section 13 on the valuation of gifts made in property. The amendment specifies that the valuation of gifts in the form of property shall follow the rules set in Section 5 of the regulations, and that the reckoning point for valuation shall be the date when the donation is made. The regulations were approved by the Secretary of Finance and take effect immediately.

Uploaded by

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

DEPARTN{EN]' OF FINANCE
BUREAU OF INTERNAL REVENUE
Quezon City

Juiy 10,2018

REvENUE REGULATToNS No. lf - Zo t I


SUBJECT Amendin g Revenue Regulations (RR)No. 12-2a13 particularly
Section 13 Thereof

TO All Internal Revenue Officers and Others Concerned

SECTION 1. SCOPE - Pursuant to the provisions of Sections 102 and 244 ofthe National
Internal Revenue Code of 1997 (Tax Code of lggT) as amended, these Regulations
are hereby
promulgated for the purpose of amending Section 13 of RR No. l2-20l8lparticularly
on thl
valuation of gifts made in property.

SECTION 2. AMENDMENT. - Section 13 of RR No. 12-2018, is hereby amended ro read


as follows:

"SECTION 13. VALUATION oF GIFTS MADE IN pRopERTy. _ The


valuation of gifts in the form of property shall follow the rules set forth in
Section 5
of these regulations: Provided, That the reckoning point for valuation shall
be the date
when the donation is made,,,

SECTION 3'
RE'PEALING CLAUSE. All existing rules and reguiations or parrs thereof
which are inconsistent with the provisions of these regulations are hereby revoked.
SECTION 4. EFFECTIVITY. These regulations shall take effect immediately.

..j
i i\/ / r* -L--* *i

cAffiro,ffi"f,.,
Secretary of Finance
JUL 2 /, zOiB

Recommending Approval : riUktAU L,,1, rA, ! - rrrtrAt kl i, " .rri

.-a -- , -.<--
JG-'^^r\ "\,, .lut go
CAESAR R. DULAY
Commissioner of Internal Revenue
0183S0

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