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CA 466 Section 90

Exemption of certain acquisitions and transmissions.

Section 90

SEC. 90. Exemption of certain acquisitions and transmissions. — The following shall not be taxed: (a) The merger of usufruct in the owner of the naked title. (b) The transmission or delivery of the inheritance or legacy by the fiduciary heir or legatee to the fideicommissary. (c) The transmission from the first heir, legatee, or donee in favor of another beneficiary, in accordance with the desire of the predecessor. In the last two cases, if the scale of taxation appropriate to the new beneficiary is greater than that paid by the first, the former must pay the difference.

Read the full instrument → · Open the chapter this section belongs to: CHAPTER I - Estate and Inheritance Taxes →

Source: Official Gazette of the Republic of the Philippines — Philippine laws are public documents (works of the government).

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