Free Legal Advice Philippines

Disclaimer: This web site is designed for general information only and does not create attorney-client relationship. Persons accessing this site are encouraged to seek independent counsel for legal advice regarding their individual legal issues.

Log in

I forgot my password




You are not connected. Please login or register

distribution of proceeds of sale of property subject to donor's tax?

Go down  Message [Page 1 of 1]

orkidia


Arresto Menor
I have a property in my name only but was intended for all of us four siblings. We agreed to sell it .Will I be subject to donor's tax if I give them their share? What should I do? Thanks for your advice.

View user profile

attyLLL


moderator
If the BIR found out and if you really want to be strict about, yes, it is possible for you to be charged donor's tax and then it would be up to you to prove you were merely holding the property in trust for all the heirs.


_________________
[i] Visit our FB Page: FOR MORE LEGAL ADVICE  
Warning and Disclaimer: I am not your lawyer; and you are not my client. With the limitations of an  Internet forum, a thorough review of your concern is not possible. View my comments at YOUR OWN RISK. It is best to actually retain a lawyer for your individual concerns.
View user profile https://www.facebook.com/BPOEmployeeAdvocate/

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum