RR No. 8-2019 — Amends pertinent provisions of Sections 9 and 10 under RR No. 12-2018 (Published in Malaya Business Insight on June 26, 2019) Digest | Full Text | Annex A | Annex B

BUREAUOFINTERNALKEY

N17 AE A BUREAU OF INTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE Quezon City JUN_2 5 2019 q 4c am GN

RECOrDS MGt. DIVISION April 15. 2019

REVENUE REGULATIONS NO 8-2019

SUBJECT: Amending the Pertinent Provisions of Sections 9 and 10 under Revenue Regulations No. 12-2018

TO All Internal Revenue Officials, Employees and Others Co:cerned

Internal Revenue Code (NIRC) of 1997, as amended, these Regulations are hereby promulgated to amend the pertinent provisions of Sections 9 and 10 under Revenue Regulations (RR) No. 12-2018. re: SECTION 1. SCOPE. -- Pursuant to the provisions of Sections 244 and 245 of the National

Consolidated Revenue Regulations on Estate Tax and Donor's Tax Incorporating the Amendments Introduced by Republic Act No. 10963. Otherwise Known as the *Tax Reform for Aeceleration and inclusion (TRAIN) Law"

SEC. 2. AMENDATORY PROVISIONS. - The pertinent provisions of Section 9 and 10 under RR No. 12-2018 are hereby amended and shall be read as follows:

PAYMENT OF ESTATE TAX DUE. "SEC. 9. TIME AND PLACE OF FILING ESTATE TAX RETUFN AND

1. Estate Tax Returns. -- xxx

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6. Payment of the estate iax by installment and partial dispositior: of estate.

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6.1. Cash installment

i. The cash instaliments shall be made within two (2) years from the date of tax retur'n. 0605._or a payment form dediccied for this trumsaction._for succeeding installment puyments afler the filing/first (l peyment through the esiate filing of the estate tax return, Heing.the Pvment Form (BIR Form No.

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'SEC. 10. PAYMENT OF TAX ANTECEDENT TO THE TRANSFER OF SHA RES, BONDS OR RIGHTS ANI BANK DEPOSITS WITHDRA WAL. - XXX

account alone. or jointly with another, it shall allow the withdrawal frem the said deposit death of the decedent. The bank shall remit to the_ BIR the withholding tas prescribed! account, subject to a final withholding tax of six percent (6%) of the amount to be witfidrawn. provided that the withdrawal shall be made within one year fror the date of If a bank has knowledge of the death of a person, who maintained a bank deposit

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following the month when the withholding was made. However, if the tax was withheld 0620) [See Annex..A"] and remit the.tax_withheld on or before the tenth (10" day mder this Section by_filing a duly acconplished Monihly_Remittance Form of Taxes Withheld on the Amount Withdrawn from the Deceden's Deposit Account (BIR Form No.

On the third month of the guarter. instead of using BIR Form No. 0620 in the remittance of tux yithhelc a quarterly remittance return_(BIR Form No...1621_ISee...Annex "B"1 shull be filed and the corresponding final withholding tux paid on or hefore the last dan estate of the decedent. Taxpaver Identification Number (TINi. date of decedent 's deuth of the month following the ciose of the quarter during which the withholding was made. The herein prescribed guarterly return shall indicate,_among others. the_ncme of the

taxahle buse, amount withheld and date withheld

Or cny of the legul heirs of the decedent while the third copy' retained hy the bank as its. reference file_The duplicate copy shall be submitted by the exccutor administrator or withholding, Mith the original and duplicate copies issued to the executor. administrator: The bank shall issue the corresponding BIR Form No. 2306 certifying such

decedent_was.domiciled.at..the.time_.of_his_.or_her_death...ithin..five_(5_days..from.its the authorized legal heir to_the RDO having jurisdiction over the place_where the

receip.

credited from the tax due in instances where the hank deposit account subiected to the final withholding iax has been actually included in the gross estate declared in the estate Iax return of the decedent. In all cases, the final tax withheld shall not be refumded. however..mo_he.

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these Regulations are rereby amended, modified or repealed accordingly SEC. 3. REPEALING CLAUSE. - All revenue issuances inconsistent with the provisions of

SEC. 4. EFFECTIVITY. - The provisions of these Regulations shall take effect after fifteen (1 5) days immediately following the date of publication thereof in any newspaper of general circulation.

007001 CARLOS G.DOMIN Secretary of Finance JUH 12 71S Recormmending Approval:

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CAESAR R. DULAY Commissioner of Interaal Revenue

0257 4 3 RUREAU OF

IUN 2'5 2019 0F0M

FECORDEMGTDMISION