BIR Ruling [DA-266-01]

December 19, 2001 BIR RULING [DA-266-01] Sec. 90 (C) DA 278-A 6-29-98 Mr . Serafin U . Salvador, Jr . c/o Sycip Gorres Velayo & Co. 6760 Ayala Avenue Makati City S i r : This refers to your letter dated December 12, 2001 requesting, on behalf of the legal heirs of the late Leonarda Utchingco Vda. De Salvador , for an extension of 30 days or until February 5, 2002 within which to file the estate tax return and pay the estate taxes due thereon. cDIaAS It is represented that the late Leonarda Utchingco Vda. De Salvador, who was a resident of Marikina City, died intestate on July 6, 2001; that the heirs are still in the process of raising the necessary funds and retrieving documents to support the estate tax return; and that the heirs need additional time to finalize the extrajudicial settlement of the estate. In reply, please be informed that Section 92(C) of the Tax Code of 1997 provides, to wit: "(c) Extension of Time . The Commissioner shall have authority to grant, in meritorious cases, a reasonable extension not exceeding thirty (30) days for filing the return." In view of the aforesaid justifiable reason, your request for an extension of 30 days within which to pay the estate tax due on the estate of the late Leonarda Utchingco Vda. De Salvador is hereby granted. It is, however, understood that the estate of Leonarda Utchingco Vda. De Salvador shall be liable to the corresponding interest that shall accrue thereon up to the time of payment of the estate tax. This ruling is being issued on the basis of the foregoing facts as represented. However, if upon investigation, it will be disclosed that the facts are different, then this ruling shall be considered null and void. (BIR Ruling No. DA 278A-98 dated June 29, 1998) Very truly yours, Commissioner of Internal Revenue By: (SGD.) MILAGROS V. REGALADO Assistant Commissioner Legal Service