Rates of tax payable by donor.
Section 109
SEC. 109. Rates of tax payable by donor. — The tax for each calendar year shall be an amount equal to the excess of a tax, computed in accordance with the rate schedule hereinafter set forth, on the aggregate sum of the net gifts for such calendar year and for each of the preceding calendar years, over a tax, computed in accordance with the rate schedule, on the aggregate sum of the net gifts for each of the preceding calendar years. Rate Schedule Three-fourths of one per centum of the amount by which the net gifts exceed three thousand pesos and do not exceed ten thousand pesos; One and one-fourth per centum of the amount by which the net gifts exceed ten thousand pesos and do not exceed thirty thousand pesos; One and one-half per centum of the amount by which the net gifts exceed thirty thousand pesos and do not exceed fifty thousand pesos; One and seven-eighths per centum of the amount by which the net gifts exceed fifty thousand and do not exceed eighty thousand pesos; Two and one-fourth per centum of the amount by which the net gifts exceed eighty thousand pesos and do not exceed one hundred and ten thousand pesos; Two and five-eighths per centum of the amount by which the net gifts exceed one hundred and ten thousand pesos and do not exceed one hundred and fifty thousand pesos; Three per centum of the amount by which the net gifts exceed one hundred and fifty thousand pesos and do not exceed one hundred and ninety thousand pesos; Three and three eighths per centum of the amount by which the net gifts exceed one hundred and ninety thousand pesos and do not exceed two hundred and forty thousand pesos; Three and three-fourths per centum of the amount by which the net gifts exceed two hundred and fifty thousand pesos and do not exceed two hundred and ninety thousand pesos; Four and one-eighth per centum of the amount by which the net gifts exceed two hundred and ninety thousand pesos and do not exceed three hundred and fifty thousand pesos; Four and one-half per centum of the amount by which the net gifts exceed three hundred and fifty thousand pesos and do not exceed four hundred and twenty thousand pesos; Four and seven-eighths per centum of the amount by which the net gifts exceed four hundred and twenty thousand pesos and do not exceed five hundred thousand pesos; Five and one-fourth per centum of the amount by which the net gifts exceed five hundred thousand pesos and do not exceed six hundred thousand pesos; Five and five-eighths per centum of the amount by which the net gifts exceed six hundred thousand pesos and do not exceed seven hundred and twenty thousand pesos; Six per centum of the amount by which the net gifts exceed seven hundred and twenty thousand pesos and do not exceed eight hundred and fifty thousand pesos; Six and three-eighths per centum of the amount by which the net gifts exceed eight hundred and fifty thousand pesos and do not exceed one million pesos; Six and three-fourths per centum of the amount by which the net gifts exceed one million pesos and do not exceed one million and two hundred thousand pesos; Seven and one-eight per centum of the amount by which the net gifts exceed one million and two hundred thousand pesos and do not exceed one million and five hundred thousand pesos; and Seven and one-half per centum of the amount by which the net gifts exceed one million and five hundred thousand pesos.