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Section 98. Imposition of Tax - National Internal Revenue Code (NIRC)

Section 98. Imposition of Tax of National Internal Revenue Code (NIRC). Section 98. Imposition of Tax. - (A) There shall be levied, assessed, collected and paid upon the transfer by any person, resident or nonresident

  • Subjects 9 Bar syllabus groups
  • Codals 48 Primary legal sources

National Internal Revenue Code (NIRC)

Section 98. Imposition of Tax. -

(A) There shall be levied, assessed, collected and paid upon the transfer by any person, resident or nonresident, of the property by gift, a tax, computed as provided in Section 99.

(B) The tax shall apply whether the transfer is in trust or otherwise, whether the gift is direct or indirect, and whether the property is real or personal, tangible or intangible.

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