The new income tax laws classify gifts under the main types of incomes. Gifts are included in taxable income from employment, business, or investment.

1. Gifts from Employment: Gifts received in the course of employment are treated as income and taxed using the applicable graduated rates for employment income.
2. Gifts from Business: Gifts received as part of business activities are added to business income and taxed at the relevant company tax rates.
3. Gifts from Investment: Gifts classified under investment income are taxed according to the rates for investment income.

In addition, the recipient of the taxable gift is required to declare the gift in their tax returns, and taxes are to be paid based on the category under which the gift falls, following the tax rates that apply to that category.