Estate Tax Returns

In all cases of transfers subject to the tax imposed herein, or regardless of the gross value of the estate, where the said estate consists of registered or registrable property such as real property, motor vehicle, shares of stock or other similar property for which a Certificate Authorizing Registration from the Bureau of Internal Revenue is required as a condition precedent for the transfer of ownership thereof in the name of the transferee, the executor, or the administrator, or any of the legal heirs, as the case may be, shall file a return under oath.

Estate tax returns showing a gross value exceeding Five million pesos (P5,000,000) shall be supported with a statement duly certified to by a Certified Public Accountant containing the following:

1.1 Itemized assets of the decedent with their corresponding gross value at the time of his death, or in the case of a nonresident, not a citizen of the Philippines, of that part of his gross estate situated in the Philippines;

1.2. Itemized deductions from gross estate allowed in Section 86; and

1.3. The amount of tax due whether paid or still due and outstanding. (Time and place of filing estate tax return and payment of estate tax due. Section 9, Revenue Regulation No. 12-2018. January 25, 2018)