In this section, you will learn updates on the estate tax, donor’s tax, and other related topics to transfer tax in the Philippines.

Three types of taxes may be levied on an individual’s estate: estate tax, donor’s tax, and transfer tax. The estate tax is imposed on the property’s value transferred at the time of death. Donor’s tax is imposed on gifts made during an individual’s lifetime. Transfer tax is imposed on property transfers during an individual’s lifetime.

The estate tax in the Philippines is set on the property’s value transferred at the time of death. The estate tax rate is 6% on the decedent’s taxable estate.

Donor’s tax in the Philippines is imposed on gifts made during an individual’s lifetime.

Conclusion

The estate tax, donor’s tax, and transfer tax are all taxes that may be levied on an individual’s estate. The estate tax is imposed on the value of the property transferred at the time of death, while the donor’s tax is imposed on gifts made during an individual’s lifetime. Transfer tax is imposed on property transfers during an individual’s lifetime.