BIR Ruling [DA-104-03]

April 1, 2003 BIR RULING [DA-104-03] Sec. 90 (B) (C) Fondevilla Jasarino Fondevilla Young Rondario & Librojo 2502-B Tektite West Tower, Exchange Road Ortigas Center, Pasig City Attention: Atty. Frederick G. Young Gentlemen : This refers to your letter dated February 10, 2003 requesting, on behalf of the legal heirs of the late, Frank C. Goss ,for an extension of thirty (30) days within which to file the estate tax return and pay the estate tax due thereon. It is represented that the late, Frank C. Goss, died on August 14, 2002; that his heirs are still in the process of collating the documents with respect to the properties he owned since at the time of his death he was a bachelor and lived apart from his heirs; that it was only recently that the heirs came to know the existence of the properties of the decedent; and that in view thereof, you are requesting for a period of thirty (30) days within which to submit the required estate tax return and pay the estate tax due thereon. In reply thereto, please be informed that under Section 90(B) and (C) of the Tax Code of 1997, estate tax return is required to be filed within six (6) months from the decedent's death, and in meritorious cases, a reasonable extension not exceeding thirty (30) days for filing the return may be granted by the Commissioner of Internal Revenue. The payment of the estate tax or any part thereof shall be made upon the filing of the return or on such date as fixed if an extension is granted by the Commissioner, but in no case to exceed five (5) years in case the estate is settled through the courts, or two (2) years in case the estate is settled extrajudicially pursuant to Section 91(B) of the Tax Code of 1997. Based on the aforestated justifiable reason, your request for an extension of thirty (30) days counted from February 10, 2003, which is the last day for filing of the estate tax return of the late, Frank C. Goss, is hereby granted. Accordingly, the filing of the said estate tax return of the decedent is hereby extended up to March 12, 2003 pursuant to Section 90(C) of the Tax Code of 1997. In view of the foregoing, this Office has decided to forego within the 30-day extension period the imposition of the surcharge and penalties on the estate tax due on the transmission of the estate of the late Frank C. Goss to his heirs. However, it shall be understood that the estate shall be liable for the corresponding interest that have accrued thereon up to the time of filing of the estate tax return pursuant to Section 249 of the Tax Code of 1997. EDCIcH Very truly yours, Commissioner of Internal Revenue By: (SGD.) MILAGROS V. REGALADO Assistant Commissioner Legal Service