Amending Certain Sections of the National… Section 122

Transfer for less than adequate and full consideration.

Section 122

SEC. 122. Transfer for less than adequate and full consideration. — Where property, other than real property referred to in Section 21 (e), is transferred for less than an adequate and full consideration in money or money's worth, then the amount by which the fair market value of the property exceed the value of the consideration shall, for the purpose of the tax imposed by this Chapter, be deemed a gift, and shall be included in computing the amount of gifts made during the calendar year.

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Other provisions in CHAPTER II . - (Gift) Donor's Tax

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of July 4, 2026

CitationAmending Certain Sections of the National… Section 122 (LawPlayer, data as of July 4, 2026)

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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