Question

Juan Reyes Dela Cruz, single and a Filipino citizen, died on February 14, 2020. At the time of his death, he resides in N. Reyes St., Sampaloc, Manila.

In filing his estate tax return, the BIR RDO No. 032 – Manila assigned Taxpayer Identification No. 123-456-789-0000 to his estate. On the other hand, YOU, as the administrator of his estate was given TIN no. 987-654-321-0000.

The following are the composition of his estate:

Lot                                                                 
House and Lot (Family home)                       
Cash (Bank of Macabebe – Account No. 14344) – Php 2,000,000.00                                               

Additional information:

Details

Lot

House and Lot

Title No.

001

002

Tax Declaration No. - Land

11-01

11-02

Tax Declaration No. - House

11-03

Location

San Isidro, Macabebe, Pampanga

N. Reyes St, Manila

Area

100 sqm

100sqm

Classification

Agricultural

Residential

Details

Zonal Value

Assessed Value

Lot in Pampanga

Php 3,000,000.00

Php 1,000,000.00

Lot in Manila

Php 3,000,000.00

Php 2,000,000.00

House

Php 2,000,000.00

Answer 1

sol:

Note - one ) As per clause a pair of The Family Home - associate quantity such as this truthful value of the decedent’s family home: Provided, however, that if the aforesaid current truthful value exceeds 10 million pesos (₱10,000,000.00), the surplus shall be subject to transfer tax

2) The truthful value as determined by the Commissioner, or The zonel worth whichever is higher

For dates of deaths occurring Jan one, 2018 to gift (RA No. 10963/TRAIN Law)

Clause one normal Deduction — associate quantity such as 5 million pesos (₱5,000,000.00)