BIR Ruling No. 342-2016

REPUBLICOE THE PHHLIPPINES

BIRENUOFINIFRNALREVENUE DEPARIMENTOFFINANCE

Quezon City

Section 90(C&91(B,NIR of 1997

BIR Ruling No.020-11

BIR Ruling No.506-14

342-2016 6-29-20 16

Date

MS.MA.NENITA V.NOLASCO No.5898 Matilde St.Poblacion. Makati City

Dear Ms.Nolasco.

I'his refers to your letter dated January 22.2016 requesting for an extension period within which to file the Estate Tax Return of your late father and to pay the full

amount of the tax duc on his estate as allowed by Section 90 of the Tax Code of 1997

as amended.

it is represented that your father,AMADO LIZA VICENCIO,died intestate on September 30.2015:that upon his death.he was a resident of No.5898 Matilde St..

Poblacion.Makati Citythat since your mother is of advanced age and suffering from dementia,you are left to handle the settlement of your father's estate and to collate all documents needed for it;that the period provided by the Tax Code to settle the estate of your late father is nearly up:and that the you are constrained to request for the

the necessary papers and obtaining government certifications required for filing the extension of the period to file and pay because you are still in the process of gathering return and likewisc concerned with the state of your finances in order to pay the taxes that will be due since you have already spent much for your parents mecications and hospitalizations.

n reply thereto.please be informed that Sections 90(Cand 91B of the Tas Code of1997.as amended.provide

"SEC.90. Fstate Tax Returns.

XXX XXX XX

CExtension of Time have authority to grantin meritorious cases a reasonable extension not exceeding thirty (30) days for filing the return." The Commissioner shall

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Estate of Amado I iza Vicencio 1342-2016 6-29-2016

RkFxtension PeriodEstate Tax

Page 2 of 3

"SEC.91.Payment of tax.

XX XXX XXX

BExtension of Time.-When the Commissioner finds that

the payment on the due date of the estate tax or of any part

thercof would impose undue hardship upon the estate or any ot

the heirs.he may extend the time for payment of such tax or any

part thereof not to exceed five (5 years.in case the estate is

settled through the courts.or two (2 years in case the estate is

Settled extrajudicialiy.In such case,the amount in respect of

which the extension is granted shall be paid on or before the date

of the expiration of the period of the extension,and the running

of the Statute of Limitations for assessment as provided in

Section 203 of this Code shall be suspended for the period of

any such extension.

XXX XXX XXX

If an extension is granted,the Commissioner may require

the executor,or administrator.or beneficiary,as the case may

be. to furnish a hond in such amount.not exceeding double the

amount of the tax and with such sureties as the Commissioner

deems necessary.conditioned upon the payment of the said tax

in accordance with the terms of the extension.

Considering your personal cireumstances and that of having difficulties in

completing the required documents from government agencies.your request for an

extension to file thc estate tax return of the late AMADO LIZA VICENCIO is hereby

granted for a period of thirty (30 days counted from March 30,2016 which is the last

day to file the estate tax returnor until April29.2016.

Furthermore. since you have financial constraints in coming up with the amount

of estate tax due.your request for extension of two2 years(where the estate will be

settled extra-judicialywithin which to pay the estate tax is hereby granted. Thus,the

heirs shall pay the estate tax within 2 years reckoned from actual filing of the return or

on April 29.2016.whichever comes first.provided that the executor,or administrator.

or beneficiary,shall furnish a bond in such amount.not exceeding double the amount

of the tax and with such sureties as the Commissioner deems nccessaryconditioned

upon the payment of the said tax in accordance with the terms of the extension.(BIR

Raling Nos.020-11 cuted.lauarv262011506-+4dated December 29.2014

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Estate of Amudo Liza Vicencio #342-2015 6-29-2016

RE:Fxtension Period Estate Tax Page 3 of3

lt shall be understood. however. that the estate shall be liable for the corresponding interest that shall have accrued from April 29.2016 up to the time of payment of the estate tax due on the transmission by the said estate of its propertics in favor of the heirs pursuant to Section 249 of the Tax Code of 1997.(B/R Ruling Nos 020-11 dutedJamuarv26.2011:506-14duted December29.2014

This ruling is beirg issued on the basis of the foregoing facts as represented However,if upon investigation. it will be disclosed that the facts are different. then this ruling shall be considered null and void.

Very truly yours.

KIMS.JACINTO-HENARES

K-I-M/B wmrb/ext.estatetav/vicencio Commissioner of Internal Revenuc 042359 J 2 4 2016