Tacloban City, Philippines 0995 398 9482 info@aaccocpas.com
Home › Insights › AAC Tax Code

Insights

AAC Tax Code.

The National Internal Revenue Code of 1997 as it currently stands — consolidated by the firm to carry the TRAIN Law, the CREATE Act, the Ease of Paying Taxes Act, the VAT on Digital Services Act, CREATE MORE, the CMEPA and the amendatory laws in force to 1 August 2026, with a footnote at every provision naming the law that changed it.

Text current as at 1 August 2026. This is an unofficial consolidation prepared by the firm and not the official text of the Code. Repealed provisions are kept, struck through, so that references in earlier records stay traceable.
Download the PDF edition →

The printed edition runs to 240 pages and carries the same text, footnotes and references as the browser below. Every section here shows the page it sits on in that PDF, so a citation taken from the screen matches the one taken from the book.

TITLE III — ESTATE AND DONOR’S TAXES › CHAPTER I. ESTATE TAX

SEC. 87. Exemption of Certain Acquisitions and Transmissions

Page 72 of the PDF edition

The following shall not be taxed:

(A) The merger of usufruct in the owner of the naked title;

(B) The transmission or delivery of the inheritance or legacy by the fiduciary heir or legatee to the fideicommissary;

(C) The transmission from the first heir, legatee or donee in favor of another beneficiary, in accordance with the desire of the predecessor; and

(D) All bequests, devises, legacies or transfers to social welfare, cultural and charitable institutions, no part of the net income of which inures to the benefit of any individual: Provided, however, That not more than thirty percent (30%) of the said bequests, devises, legacies or transfers shall be used by such institutions for administration purposes.

Book a consultation →
Inquire Call Messenger