Donor's Tax Rates

Don't you just hate it? Even gifts are taxed. For every gift that you give to somebody in a year, you have to pay a tax for it. The tax is imposed on the net value of the gift.

If the net gift is:

1.) Php100,000 or less -exempt

2.) Between Php100,000 and Php200,000 -2% of the excess over Php100,000

3.) Between Php200,000 and Php500,000 -Php2,000 + 4% of the excess over Php200,000

4.) Between Php500,000 and Php1Million -Php14,000 + 6% of the excess over Php500,000

5.) Between Php1Million and Php3Million -Php44,000 + 8% of the excess over Php1Million

6.) Between Php3Million and Php5Million -Php204,000 + 10% of the excess over Php3Million

7.) Between Php5Million and Php10Million -Php404,000 + 12% of the excess over Php5Million

8.) More than Php10Million -Php1,004,000 +15% of the excess over Php10Million

So we're taxed on our incomes, estates and gifts.