Exemptions

  • Transfer by reason of death
  • Gifts to relatives within the third degree of kindred
  • Gifts to a company of which the shareholders are and will continue to be members of the disposer’s family for five years after such gift
  • Gift by a company, of which all the shareholders are members of the same family, to any of its shareholders when the property gifted was also acquired by the company as a gift. The property must remain in the hands of the donee for a period of at least three years
  • Gift to the Republic or to a local authority for educational or other charitable purposes or to approved charitable institutions
  • Exchange or sale in accordance with the Agriculture Land (Consolidation) Laws
  • Exchange of properties where the values of the immovable properties being exchanged are equal
  • Gain on disposal of shares, which are listed on any Stock Exchange
  • Gains from transfer of property or shares in case or reorganization