A
collection of Philippine laws, statutes and codes
not
included or cited in the main
indices
of
theChan Robles Virtual Law Library
This page features the full text of
Batas Pambansa Bilang 649
AN
ACT EXEMPTING FROM PAYMENT OF DONOR'S TAX, DONATIONS OF PRIVATE
AGRICULTURAL
LANDS AND/OR HOMELOTS AND WAIVERS OF COMPENSATION UNDER THE AGRARIAN
REFORM
PROGRAM, AND FOR OTHER PURPOSES.
chan
robles
virtual law library
BATAS
PAMBANSA BILANG 649AN
ACT EXEMPTING FROM PAYMENT OF DONOR'S TAX, DONATIONS OF PRIVATE
AGRICULTURAL
LANDS AND/OR HOMELOTS AND WAIVERS OF COMPENSATION UNDER THE AGRARIAN
REFORM
PROGRAM, AND FOR OTHER PURPOSES.chan
robles
virtual law library
chan
robles virtual law librarySection
1. The provisions of existing
laws to the contrary notwithstanding, donations of private agricultural
lands and/or homelots not covered by Operation Land Transfer (OLT)
under
Presidential Decree Numbered Twenty-seven, as amended, made to or in
favor
of tenant-farmers, actual tillers and/or occupants, pursuant to the
agrarian
reform program of the government, shall be exempt from the payment of
donor's
tax. Claims for exemption under this provision shall be allowed upon
certification
by the Ministry of Agrarian Reform that the donee is a tenant-farmer,
actual
tiller and/or occupant of the land donated which, in no case, shall
exceed
a family-size farm and/or homelot area and that the donation conforms
with
the agrarian reform program of the government. For purposes of this
Act,
the terms "family-size farm and/or homelot area" and "tenant-farmer,
actual
tiller and/or occupant" shall be understood in the sense that they are
defined in existing laws, rules, regulations and guidelines
establishing
and implementing the land reform program of the government.chanrobles virtual law library
The
certification shall be issued within sixty days from receipt of the
request
therefor. chanrobles virtual law library
In
case the land donated is tenanted, in no case shall the security of
tenure
of the tenant be violated. chanrobles virtual law library
Sec.
2. No land and/or homelot
donated under the provisions of this Act shall be further transferred
to
anybody except by hereditary succession or to the government. Any
violation
of this provision will subject the donee to liability for the payment
of
the donor's tax.
Sec.
3. The tax exemption provided
under Section 1 hereof can also be availed of by a landowner covered by
Operation Land Transfer (OLT) or his successor-in-interest who waives
his
right to receive the whole or the balance of the compensation due him
from
the Land Bank of the Philippines or the farmer-beneficiary, as the case
may be, and in such case the tenant-farmer shall be relieved of the
obligation
to pay the amount waived. Claims for exemption under this provision
shall
be allowed upon certification by the Ministry of Agrarian Reform that
the
compensation waived has been determined to be in accordance with the
provisions
of Presidential Decree Numbered Twenty-seven, as amended, and its
implementing
guidelines, which certification shall be issued within the period
provided
for in Section one hereof.
Sec.
4. Fifty percent of the
fair market value of the property donated as determined in the tax
declaration
of such property at least one year prior to the donation shall be a
deduction
against taxable income of the donor in the year the donation is made.
If
the donation is in accordance with the immediately preceding section,
the
deduction shall be the whole amount waived. chanrobles virtual law library
Sec.
5. The Minister of Finance,
in consultation with the Minister of Agrarian Reform, and upon
recommendation
of the Commissioner of Internal Revenue, shall promulgate the necessary
rules and regulations for the effective implementation of this
Act. chanrobles virtual law library
Sec.
6. Any provision of this
Act or any part thereof which may be declared unconstitutional shall
not
affect the other provisions hereof.
Sec.
7. This Act shall take
effect upon its approval. chanrobles virtual law library
Approved:
March 7, 1984
Back
to Top - Back
to Main Index - Back
to Home