Estate Tax Amnesty :|| Lupang pinamana or nabili, ipalipat agad 🏠🏡🏞️

Lupang ipinamana or nabili, ipalipat mo na agad.

Tax Amnesty Act. 2019

Requirements for payment of Estate tax
1. BIR forms
a. BIR FORMS 1904
b. BIR FORMS 2118-EA
c. BIR FORMS 0621-EA
2. Certified true copy of Death Certificate
3. Extra judicial settlement
4. Certified true copy of tax Declaration
5. TIN no of all the parties
6. sworn statement if one of the heirs is the executor
7.SPA
8. Survey plan

6% net taxable at the time of death

Resident - all properties, real and personal, tangible and intangible,wherever its situated
non-resident- all properties, real and personal, tangible and intangible situated in the Philippines

Allowable deduction for resident
1. standard deduction, claims against state, claims against insolvent person, unpaid taxes, properties previously taxed, properties transfer for public used, family home, and amounts received by heirs under RA 4917

Allowable deduction for non-resident
*standard deduction, properties previously taxed, properties transfer for public used, shares in the conjugal properties, tax credits for estate taxes paid to a foreign country

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