Escolar Documentos
Profissional Documentos
Cultura Documentos
BIR Revenue ReBUiations No. 12-2018 It is not a tax on property nor on the transferor or transJeree.
The estate tax is assessed on th e value of the net estate
RMo No. L5-03 (oNETT) transferred, and notcn the propertyitself.
ry#41l@[kk@deaDG
4GAld8h€*red
INIAI'IGtBtI FERtOI{AL PROPEFnES COIIISIDERED WITH StrUS DEDUCnONS AND EXCLWIONS FROMthe gross ESTATE
INTHE PHILIPPINEST (TRAIN Law- eftcdve L/ff20u1)
UnpaidTaxes
Requisite: Prsperly PrwiouslyTaxed^lanishin6 Dedustion
- the tax was accrued at the time of death of the dtredent Sotermed becausethe deduction alloweddiminishesover a
and had remained unpaid periodof 5 years-
NOT DEDUCTIBLE:
- lncometaxon incomereceivedafter death Property forming a part of th e gross estateofany percon
- Prcperty tax€s not accrued before death who died within 5 yeaB priorto the death ofthe decedent,
- Estatetax or transferred to the decedent by gift within 5 yeaE prior to
his death. PURPOSE: Avoid doubletaxation
TheFamilyHome
Thiscorresponds to the current FMV of the decedentt family
home. Limit: 1OM- Certificatefrom thebarangay captain,
although no required undertheTRAlN Law, is a dccumentary
requirement under RR12-2018.
Requisites:
- The fumily home must be the actual residential home of
the decedent at the time of death
- The value of the family home is included in the gross estate
tutriMa@M*Femde.@ cprl#€d 2013w1 MDbFmildP, oq
qrB !1.*5Etued qta A h#r 6eNed
2nd: the total credit shall not exceed the same proportion of - The transmission ofthe inheritanceor legacy by the
the Bstat€tax due in the Philippines, which the decedentt flduciaryheir or legatee to the fideicornmissary
net estate situatedoutsidethe Philippines bears to his entire (fi deicommissarysubstitution).
n et estate-
- The transmission from the fi6t heir, legatee or one in favor
FORMULA: {2d Limitation} ofanother beneficiary in accordancewiththe will ofthe
- NetEstate,AliForeiHnCountries X Phil.EstateTax predecessor.
Due
Ne: Estate, World/fotal - Allbequestt devises, legacies or transfere to social welfure,
cultural and charitableinstitutions, no part qfthe net income
ALLOWABI-ETAXCREDIT: thewhich-everis the loweramount ofwhich inures to the beneflt of any individual, and not more
than 30% of the said bequests, devises, legacies or transfers
shall be used by such institutions for administration
purposes.
hdd201&ul@@ EBnms @Y'ch#ffi@ry v'&ffi#' oq
qcd4Eld
FILII{G OF NOTICEOF DEATH. SECNO$89 - Underthe NlRCaf 11197: wherethegross valueof the
repealed by RA10963 state exceeds200L OR - where the said estateconsistsof
registered or registrable property (real properiy, motor
Under the NIRC OF 1997: A written noticeofdeath shall be vehicle, shares of stock or other sirnilar properh/ for which a
given within 2 months from the decedent's death- clea[ancefrorn the BIR is required as a condition precedent
for the transfer of ournership, there is a need to file an estate
tax return under oath in 2 copies
ESTA-IETAX RETURN- Bir fom no- 1801
The BIR has not posted a new EstateTax Return form in its - CPACertifimtion:
lvebpage. For gross estate exceeding 5M (under the NlRCaf 1"992 if
gros estateexceeds 3M), statementby a CPA containing
a
the itemized assets of the decedent with their corresponding
gross value at the time of his death, itemized deductions; and
the amountof estatetax due.
@ddal&wtli!!!l&e Us@:s hYnffiol@#4F &i EL 2{
4lClldgElld
(A) Are the medi€al expenses, personal loans and mortgages a. Claims aglinst the state {2%}
incurred by Casimira deductiblefrorn her gmss estate?
Explain your answer-{5%) b. Medical expenses{2%}
(b) May the heirs of Casimira file the estatetax return and
pay the corrsponding estatetar beyond December 19, 2Q17
without incurring interest and surcharge? Expiain your
answer.{3%}
turn&ed XlB@fir V,lylemddq DO @Sd 2013@&. MdqFmad% f
q@Aln#Fre.d q@AnrE'i#
b6d413erv*tr.m&@
4LaAlt*Id