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Assignment (Donors Tax)
Assignment (Donors Tax)
The main reason is to simplify the payment of Donor’s Taxes. In the previous law, donor’s
tax goes up to 15% if the donor and the donee are related and 30% if they’re not. The
donor’s tax is now at 6% regardless of the relationship between donor and donee.
Further, Donor’s tax will be harmonized with Estate tax through the uniform tax rate of 6%
so it does not matter if the person passed away, donated a property, or simply wants to
transfer a property