Exemptions from Gross Gift

  1. If donor is a Citizen or Resident Alien;
    1. Dowries or gifts made on account of marriage amounting to 10 000 before the celebration or within one year therafter) given by the parents to each of their:
      1. Legitimate Child
      2. Recognized natural:
      3. Adopted children.
    2. Gifts made to the National Government or political subdivision.
    3. Gifts in favor of the following non profit institution, foundation or trust;
      1. Educational
      2. Charitable
      3. Religious
      4. Cultural
      5. Social Welfare
      6. Philantrophic
      7. Research
      8. Accredited nongovernment organization provided not more than 30% of said gifts are used for administration purposes (subject to BIR verification)
  2. If the Donor is not a citizen, non resident exemptions in (b) and (c) can be claimed but not (a).

Deductions from Gross Gift:

  1. Mortgage assumed by the donee.
  2. Amount specifically provided by the donor as diminuition of the property donated.

Exempt under Special Laws:

  1. International  Rice Research institute
  2. Ramon Magsaysay Award Foundation
  3. Southern Philippines Development Administration
  4. Philippines American Cultural Foundation
  5. Integrated Bar of the Philippines
  6. Development Academy of the Philippines
  7. National Social Action Council
  8. Museum of Philippine Costumes
  9. Aqua- Culture Department of Southeast Asia Fisheries Development Center of the Philippines.
  10. Intramuros Administration
  11. Philippine Inventor’s Commission

About Jonathan Ruiz CPA

Entrepreneur, CPA Mentor, Stock market Newbie Mentor, Influential Author and Master's Degree in International Business graduate in Hult International Business School, UK. A father of two lovely daughters.
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