BIR Ruling No. 341-2016

REPUBLICCTHEPHIIPPINES

BUREAU OFINTERNAL REVENUE DEPARTMLNT OF FINANCE Ouezon City

Sccs.90(C91B249NIRC

BIR Ruling No.059-2015 Revenue Regulations No.02-2003 BIR Ruling No.276-2015 341-2016

6-29-2016

Ms.Anjeleen P.de Castro Block 20.Lot 6,Alfani St Portofino HeightsLas Pinas City

Madam:

late Mario Deia Cruz De Castro for an extension of time within which to file the estate tax return and to pay the estate tax due thereon. This refers to your letter dated July 30.2015 requesting on behalf of the heirs of the

the late Mario D.De Castro who died on February 4.2015,and as you represented there are serious disagreements interposed by the children from his first marriage (which was eventually annulled by the Regional Trial Court over their cumulative shares as heirs with that of the disagreements,it would be hard to draft an extrajudicial settlement, which you believe could end up to litigation. Apart from the said complexities, there is also the difficulty raising the cash amount needed to pay the estate tax.The net taxable estate is estimated at P29 million and the corresponding estate tax is more the share of the surviving spouse.and over expenses involve in any settlement.By reason of said Documents submitted show that Ms.Anjeleen P.De Castro is the surviving spouse of

1997 provide. viz. In reply thereto.please be informed that Sections 90Cand 91(Bof the Tax Code of

"SEC 90. XXX Estate Tax Returns X XX

meritorious cases.a reasonable extension not exceeding thirty(30) days for filing the retun C) Exteusion of Time The Commissioner shall have authority to grant, in

"SEC 91 Pavment of tax

XX XX XX

date of the estate tar or of anv part thereof would impase undue hardship upon the estate or am settled extrajudiciatlyIn such case,the amount in respect of which the extension is granted shall the Statute of Limitations for assessment as provided in Section 203 of this Code shall be of the heirs.he mav extendthe time for payment of such tax or anv pari thereof not to exceed five (5 vears.in case the estate is seuted through the couris or wo(2) years in case the estate is be paid on or before the date of the expiration of the period of the extension and the running of suspended forthe period of any such extension. B) Extension of Time-When the Commissioner finds thar the pavment on the due

or beneficiary.as the case may he.to furnish a hond in such amount not exceeding double the amouu of the tax and with such sureties as the Commissioner deems necessaryconditioned upon the pavment of the said tax in accordance with the terms of the extension Ian extension is granted the Commissioner mav require the execuor. or administrator

04234

341-20 16 6-29-2016

fstate of Mario Dela Cruz De Castro

Paoe 2 of 2

Based on the foregoing representations.this Office finds justifiable reason to grant the request for an extension to file the estate tax return of thirty 30 days counted from August 4. 2015.which is the last day for filing of the estate tax return of the late Mario D.De Castro.

Thus.the filing of the said estate tax return of the decedent is hereby extended up to September

3.2015.

Furthermore, since you are to collate all documents and information necessary for the

preparation of the said return,the request for extension of 5 years (where the estate wilt be

settled judicially) within which to pay the estate tax is hereby granted.

Thus. thc heirs shall pay the estate tax within 5 years reckoned from actual tiling of the

return or on September 3.2015.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 necessaryconditioned

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

It shall be understood. however. that the estate shall be liable for the corresponding interest that shall have accrued from September 3.2015 up to the tine of payment of the estate tax due on the transmission by the said estate of its properties in favor of the heirs pursuant to

Section 249 of the Tax Code of 1997.BIR Ruling No.506-14 dated December 29.2014

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

Very truly yours.

KIM S.JACINTO-HENARES Commissioner of Intermal Revenue

K-1-RFR WL 042343

JUN 2016