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Introduction To Transfer Taxes
Introduction To Transfer Taxes
Villanueva, CPA
Business and Transfer Taxation: Banggawan Transfer and Business Taxation: Tabag National Internal Revenue Code as Amended
Business and Transfer Taxation: Valencia and Roxas Relevant Revenue Regulations Related Laws
2|P age J.A. Villanueva, CPA
of the taxable gain. As a remedy, the government subject The benefit received theory is the most dominant
the P2,000 to transfer taxes. rationalization of transfer taxation.
Business and Transfer Taxation: Banggawan Transfer and Business Taxation: Tabag National Internal Revenue Code as Amended
Business and Transfer Taxation: Valencia and Roxas Relevant Revenue Regulations Related Laws
3|P age J.A. Villanueva, CPA
Business and Transfer Taxation: Banggawan Transfer and Business Taxation: Tabag National Internal Revenue Code as Amended
Business and Transfer Taxation: Valencia and Roxas Relevant Revenue Regulations Related Laws
4|P age J.A. Villanueva, CPA
Non-taxable Transfers:
These are transfers of properties which are not actually
donations and hence, not subject to transfer taxes, such as:
1. Void Transfers
2. Quasi-transfers
Void Transfers:
Those that are prohibited by law or those that do not conform
to legal requirements for their validity.
Ex:
1. Donations of property not owned by the donor
2. Donation between spouses.
Quasi-transfers:
These are transmissions of property which will never involve
transfer of ownership.
Ex:
1. Transmission of the property by the usufructuary to the
owner of the naked title.
Business and Transfer Taxation: Banggawan Transfer and Business Taxation: Tabag National Internal Revenue Code as Amended
Business and Transfer Taxation: Valencia and Roxas Relevant Revenue Regulations Related Laws