TITLE III — ESTATE AND DONOR’S TAXES
CHAPTER I. ESTATE TAX
SEC. 84. Rates of Estate Tax. — There shall be levied, assessed, collected
and paid upon the transfer of the net estate as determined in accordance with
Sections 85 and 86 of every decedent, whether resident or nonresident of the
Philippines, a tax at a rate of six percent (6%)38 based on the value of such net
estate.
SEC. 85. Gross Estate. — The value of the gross estate of the decedent shall be
determined by including the value at the time of his death of all property, real or
personal, tangible or intangible, wherever situated: Provided, however, That in
the case of a nonresident decedent who at the time of his death was not a citizen
of the Philippines, only that part of the entire gross estate which is situated in the
Philippines shall be included in his taxable estate.
(A)
Decedent’s Interest. — To the extent of the interest therein of the
decedent at the time of his death;
(B)
Transfer in Contemplation of Death. — To the extent of any interest
therein of which the decedent has at any time made a transfer, by trust
or otherwise, in contemplation of or intended to take effect in possession
or enjoyment at or after death, or of which he has at any time made
a transfer, by trust or otherwise, under which he has retained for his
life or for any period which does not in fact end before his death (1)
the possession or enjoyment of, or the right to the income from the
property, or (2) the right, either alone or in conjunction with any person,
to designate the person who shall possess or enjoy the property or the
income therefrom; except in case of a bona fide sale for an adequate and
full consideration in money or money’s worth.
(C)
Revocable Transfer. —
(1) To the extent of any interest therein, of which the decedent has at
any time made a transfer (except in case of bona fide sale for an
adequate and full consideration in money or money’s worth) by trust
or otherwise, where the enjoyment thereof was subject at the date of
his death to any change through the exercise of a power (in whatever
capacity exercisable) by the decedent alone or by the decedent in
conjunction with any other person (without regard to when or from
38
100
As amended by Section 22 of the TRAIN Law.
Isla Lipana & Co., the Philippine member firm of the PwC network
Seleccionar párrafo de destino3
Conectar a un párrafo
Connect to an entity
Disable highlights
Añadir a la tabla de contenidos