Exemption of donor's tax on Laurel-Langley land

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PRESIDENTIAL DECREE NO. 697: Exemption of donor's tax on Laurel-Langley land

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Title Supreme Court: Exemption of donor's tax on Laurel-Langley land

Law: Presidential Decree No. 697

Decision Date: May 9, 1975

Presidential Decree No. 697 grants exemption from donor's tax and recognition as a deductible business expense for irrevocable donations of American-owned private lands acquired under the Laurel-Langley Agreement, subject to certain requirements and limitations.

irrevocable donations

fair market value

qualified donees

END