BIR Ruling [DA-250-05]

June 9, 2005 BIR RULING [DA-250-05] Sec. 90 Mr. Eusebio C. Tan No. 9 Nightingale Street Greenmeadows, Quezon City S i r : This refers to your letter dated April 15, 2005 requesting an extension of thirty (30) days within which to file the estate tax return on the estate of the late Gloria Co Sio Tan. It is represented that the late Gloria Co Sio Tan died on November 2, 2004; that the supporting documents needed in filing her estate tax return have not been completed yet; that you have yet to raise the appropriate amount needed to settle all the tax obligations; and that you will not be able to file the said return within the prescribed period, hence, you are constrained to seek for an extension of thirty (30) days within which to file the required estate tax return. taxcd2005 In reply thereto, please be informed that under Section 90(B) and (C) of the Tax Code of 1997, the 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. IDTSEH Based on the aforestated justifiable reason, your request for an extension of thirty (30) days counted from May 2, 2005, which is the last day for filing of the estate tax return of the late Gloria Co Sio Tan, is hereby granted. Accordingly, the filing of the said estate tax return of the decedent is hereby extended up to June 2, 2005 pursuant to Section 90(C) of the Tax Code of 1997. cdtax2005 In view of the foregoing, this Office has decided to forego within the 30-day period the imposition of the surcharge and penalties on the estate tax due on the transmission of the estate of the late Gloria Co Sio Tan to her 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 payment of the estate tax pursuant to Section 249 of the Tax Code of 1997. Very truly yours, Commissioner of Internal Revenue By: (SGD.) JOSE MARIO C. BUAG Deputy Commissioner Legal & Inspection Group