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Post by account_disabled on Dec 7, 2023 7:32:26 GMT
Except in the case of an agreement signed in a notarized form; recording of the loan by transfer to its payment account or other account of a bank or cooperative savings and credit union or by proof of transfer by postal money order The person receives the payment. Tax relief on civil law transactions is available to a person who obtains a loan from his relatives, including: wife, husband, descendants such as daughter, son, granddaughter, grandson, elders such as mother, father. Grandmother, grandfather, sister or brother, provided that The loan amount is,. Starting in October. IMPORTANT INFORMATION Loan amounts received from family members can be up to , . Civil law transactions are tax-free and do not require any additional conditions, including philippines photo editor reporting to the tax office. How do I report a loan to a family member? The form, and the borrower has several days from the date of the agreement to submit the application. It is important that borrowers submit their applications within a few days, as even a day's delay can result in a waiver of forgiveness. Borrowers can submit the statement online on the tax portal without using a qualified signature; paper statements should be sent to the competent tax authority in the borrower's place of residence. When signing a contract in notarized form, there is no need to submit a declaration. Furthermore, the statement itself does not need to be accompanied by a copy of the loan or transfer agreement.
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