Practice question
A donor claims a completed gift of intangible property cannot be within donor's-tax scope because no physical object changed hands. Explain the basic property categories and the need for territorial and other qualifications.
Legal references
- NIRC Sections84-85,98 and104, read with TRAIN amendments: https://lawphil.net/statutes/repacts/ra1997/ra_8424_1997.html
- RA10963, TRAIN, estate and donor tax amendments including Sections99-100: https://lawphil.net/statutes/repacts/ra2017/ra_10963_2017.html
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