Victoria Kim Raymundo-de Venecia

September 18, 2009 BIR RULING [DA-(ET-011) 559-09] 90 (B) (C); 91 (B) Victoria Kim Raymundo-de Venecia c/o Nisce Mamuric Guinto Rivera & Alcantara Law Offices 8th Floor, 139 Corporate Center, 139 Valero Street Salcedo Village, Makati City Madam : This refers to your letter dated September 11, 2009 requesting for an extension of thirty (30) days within which to file the estate tax return of your father, Mr. Jose E. Raymundo, who died last April 9, 2009, as well as a two (2) year extension to pay the estate taxes due. It is represented that you are aware that the heirs shall file the estate tax return for your deceased father's estate and pay the corresponding estate taxes within 180 days from the date of death or on October 6, 2009; that circumstances prevent you from immediately settling the affairs of your late father in the Philippines; that you have to set aside days for mourning, interment and funeral of your father; that the untimely demise has caused your family unbearable grief that you were not able to immediately focus on the legal consequences of your father's death; that your father's estate is not liquid, consisting as it does of real properties which are all located in Pasig City and the values of which you estimated will yield significant estate tax payable; that, however, your father has long since retired and was dependent on his pension and the support you, and the other heirs, gave him; that the sourcing of funds to pay the estate tax will cause a financial strain on your part and on the other heirs since all of you are only dependent on your modest means/income; and that moreover, you still have to hire the services of an accountant and a lawyer to assist you in the settlement of your father's estate, as well as collate all the documents necessary to put the estate in order. In reply, 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 extra-judicially pursuant to Section 91 (B) of the Tax Code of 1997. cSCTEH Based on the afore-stated justifiable reasons, your request for an extension of thirty (30) days within which to file the estate tax return for the estate of the late Jose E. Raymundo is hereby granted pursuant to Section 90 (C) of the Tax Code of 1997, as amended. Accordingly, you are hereby given until November 9, 2009 within which to file the required estate tax return. On the other hand, your request for an extension of two (2) years within which to pay the estate tax due on the above estate is hereby granted pursuant to Section 91 (B) of the Tax Code of 1997, as amended. Accordingly, you are hereby given until October 9, 2011 within which to pay the estate tax due on the estate of the late Jose E. Raymundo. Very truly yours, Commissioner of Internal Revenue By: (SGD.) JAMES H. ROLDAN Assistant Commissioner Legal Service