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Gamilkisser ETDT
Gamilkisser ETDT
Deadline for filing and Decedent died before 2018: within Shall be filed within 30 days after
payment 6 months after death the date the gift is made or
completed and the tax due thereon
shall be paid at the same time that
Decedent died on or after Jan. 1, the return is filed.
2018 (TRAIN Law): within 1 year
from date of death
Extension: Extension of the period
to file and pay the donor's tax
Extension: The Commissioner or return is not allowed.
his/her duly authorized
representative, shall have the
authority to grant, in meritorious
cases, a reasonable extension, not
exceeding thirty (30) days, for filing
the return
When imposed? Upon the death of the owner Imposed on the exercise of the
notwithstanding the postponement donor`s right during lifetime to
of the actual possession or transfer property to others in the
enjoyment of the estate by the form of gift.
beneficiary.
Taxpayer The “estate” of the decedent as a The person making the donation
juridical person (donor) is liable to pay the
donations tax
Who actually pays the Primary liable: Administrator or The donor or giver who is bound to
tax? executor pay the tax, however, if the donor
fails to pay the tax within the
payment period, the donor and
Secondary liable: any of the heirs donee are jointly and severally
liable.
-Retirement benefits of
officials/employees of a private
firm
Deductions:
1. Ordinary Deductions
-Losses
-Indebtedness
-Taxes
1. Standard deduction
Tax Rate 6% 6%
Tax Base The 6% is based on the value of the The 6% is based on the value of the
net estate. net taxable gift (in excess of
P250,000) exempt gift made during
the calendar year, regardless of the
The estate tax is based on the laws relationship between the donor and
in force at the time of death the donee.
notwithstanding the postponement
of the actual possession or
enjoyment of the estate by the Fair market value of the total net
beneficiary gifts made by a donor during the
calendar year
Can you avail of Tax Section 6 of RA 11213 states that Section 19 of the Tax Amnesty Act
Amnesty? How? estate administrators, lawful heirs, provides that any person, natural or
or beneficiaries have two years or juridical, who wishes to avail of the
until June 15, 2021 to avail of the Tax Amnesty on Delinquencies shall,
estate tax amnesty. Under RA within one (1) year from the
11569, the new deadline for the effectivity of its Implementing Rules
filing of estate tax amnesty returns and Regulations (IRR), file with the
was set on June 14, 2023 appropriate office of the BIR, which
has jurisdiction over the residence
or principal place of business of the
1. Prepare the sworn ETA Return taxpayer, a sworn Tax Amnesty on
Delinquency Return accompanied
2. File the sworn ETA return by a Certification of Delinquency.
3. Secure an Acceptance Payment
from the RDO