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databril2018 1 of 6
QUICKIE NOTES ESTATE TAX AND DONOR’S TAX
databril2018 2 of 6
QUICKIE NOTES ESTATE TAX AND DONOR’S TAX
databril2018 3 of 6
QUICKIE NOTES ESTATE TAX AND DONOR’S TAX
databril2018 4 of 6
QUICKIE NOTES ESTATE TAX AND DONOR’S TAX
1." Per"country"limitation""
2." Global"limitation"
"
ADMINISTRATIVE(MATTERS(
"
Filing(of(notice(of(death(
Notice"of"death"to"the"BIR"must"be"made"within"60"days"
from"the"death"of"the"decedent"
"
TRAIN:'no"longer"required"
"
Filing(of(estate(tax(return((ETR)(
Filed" by" the" executor" or" administrator" of" the" estate"
within"6"months"(TRAIN:'1"year)"from"the"date"of"death"
of"the"decedent,"unless"the"period"is"extended"for"more"
than" 30" days" by" the" Commissioner" on" meritorious"
grounds."
"
When"required"
1." In"all"cases"of"transfers"subject"to"tax"
2." When"the"estate"is"subject"to"estate"tax"
3." Though" exempt" from" tax," the" gross" value"
exceeds"P200,000"(TRAIN:'P5,000,000)"
4." Regardless" of" the" gross" value" of" the" estate"
when" said" estate" consists" of" registered" or"
registrable" property" such" as" real" property,"
motor"vehicle,"shares"of"stock"
5." If" gross" value" of" the" estate" exceeds"
P2,000,000" (TRAIN:' P5,000,000)," the" return"
should" be" supported" with" a" statement" duly"
certified"to"by"a"CPA"
"
Place(of(filing(
1." Authorized"or"accredited"agent"bank"(AAB)"
2." Revenue"district"officer"(RDO)"
3." Collection"officer"
4." Duly" authorized" Treasurer" of" the" city" or"
municipality" in" which" the" decedent" was"
domiciled"at"the"time"of"his"death"
5." If"there"be"no"legal"residence"in"the"PH,"with"
the"Office"of"the"Commissioner"
"
When(to(pay(
Within"6"months"from"death"and"upon"filing"of"the"ETR"
(Pay[as[you[file"system)"
"
TRAIN:"
1." Payable"within"1"year"from"death"
2." May"be"paid"on"installment"within"2"years"from"
death"
3." Maximum" allowable" period" for" the" full"
payment"is"2"years"from"death"without"interest"
and"penalty"
"
"
" "
databril2018 5 of 6
QUICKIE NOTES ESTATE TAX AND DONOR’S TAX
DONOR’S(TAX( !
"
Imposed" on" donations" inter' vivos" or" those" made"
between"living"persons"to"take"effect"during"the"lifetime"
of"the"donor"
"
Rate(
( Rate(
In" favor" of" a" relative" 2%[15%"(TRAIN:" 6%"of"
within" the" fourth" civil" the" net" value" of" the" gift"
degree" regardless" of" the"
relationship"between"the"
donor"and"donee)"
Gift" to" stranger" or" 30%"(TRAIN:'deleted)"
juridical"entity" "
"
Exemptions(
Value"of"donation"is"P100,000"(TRAIN:'P250,000)"and"
below"–"exempt"from"donor’s"tax"
"
DST(and(Donor’s(Tax(
Donation"of"real"property"is"not"subject"to"DST,"only"to"
Donor’s"tax"
'
TRAIN:'subject"both"to"DST"and"Donor’s"tax"
"
Dowry(deduction(
Deduction" of" P10,000" is" deductible" from" the" value" of"
the"gift"to"a"child"on"occasion"of"marriage"
"
TRAIN:'deleted"
"
Completed(gift(
Donor’s"tax"shall"not"apply"unless"and"until"there"is"a"
completed"gift."
a." Perfected" –" from" the" moment" the" donor"
knows"of"the"acceptance"by"the"donee"
b." Completed" –" by" delivery," either" actually" or"
constructively,"of"the"donated"property"
"
Donor’s(tax(
Levied,"assessed,"collected"and"paid"upon"the"transfer"
by"any"person,"resident"or"non[resident,"of"the"property"
by"gift."It"shall"apply"whether"the"transfer"is"in"trust"or"
otherwise," whether" the" gift" is" direct" or" indirect," and"
whether" the" property" is" real" or" personal," tangible" or"
intangible."
"
Nature(
Not"a"property"tax"but"a"tax"imposed"on"the"privilege"to"
transfer"property"by"way"of"gift"inter'vivos."
"
Law(applicable(
Law"in"force"at"the"time"of"the"perfection"or"completion"
of"the"donation"
"
Elements(of(donation(
1." Reduction"of"the"patrimony"of"the"donor"
2." Increase"in"the"patrimony"of"the"donee"
3." Intent" to" do" an" act" of" liberality" (animus'
donandi)""
databril2018 6 of 6