Edgar Munti received the following during the year:

House and lot from his father to take effect upon his fathers death of 1 million pesos,  first prize for winning the tournament is 500 thousand pesos, dowry from his parents in law of 300,000 and birthday gifts from his friends of 100,000. How much of these amounts are subject two transfer taxes ?

Answer rating: 100% (QA)

Transfer taxes vary depending on the specific laws and regulations in the jurisdiction where the transfers take place In the Philippines for example t... View the full answer