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Post by account_disabled on Dec 7, 2023 4:05:25 GMT
Taxes and what formal activities should you do? Discussing Home Loans: What is a Loan? Differences between Loans and Donations Family Member Loans and Tax Increase Civil Law Transaction Exemption Limit Civil Law Transaction Tax Exemption How to Report a Family Member Loan? Home Loan Digest Subscribe to our newsletter and receive a weekly dose of what's new in accounting, business and technology. Only valuable information. Enter your email address. I accept the regulations and subscribe to the newsletter containing information about products and services. * Sign up in this article and we will clarify any doubts, but at the same time keep in mind that the loan amount available to your immediat philippines photo editor family members is up to, . Civil law transactions are tax-free and you do not have any additional obligations. Only if this amount is exceeded will two formal conditions be met. What is a loan? According to the provisions of Art. Article ยง of the April Act of the Civil Code. With a loan agreement, a specific amount of money or items marked only for its type, and the borrower promises to return the same amount of money or the same amount of items. Same variety, same quality. According to the provisions of the Civil Code, a loan agreement does not belong to a unit qualification contract; in principle, any entity, that is, a natural person, a legal person or a so-called defective legal person. However, when defining the entities that sign a loan agreement, we distinguish.
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