Request for Waiver of Surcharge on Estate Tax

November 6, 1997 BIR RULING NO. 117-97 248 117-97 Mr. Alfredo Victor G. Tantoco No. 79 11th St. New Manila Quezon City S i r : This refers to your letter dated August 4, 1997 requesting for a waiver of surcharge on the estate tax of the late Francisco R. Tantoco, Sr. It is represented that MR. FRANCISCO R. TANTOCO, SR. died on September 2, 1995; that on February 29, 1996, or within the prescribed 6-month period, you filed the estate tax return and paid the estate tax due thereon with the Asiatrust Development Bank as directed by our Regional Office in Quezon City; that shortly thereafter, you were advised of an adjustment on your declaration based on the use of a revised and new zonal valuation, thus, leaving you with a substantial accountability; that on scrutiny, however, you questioned and contested the use of a residential zonal valuation on what is actually an agricultural property; that at that instance, you requested, in a letter dated March 11, 1996 to the Office of the Quezon City Regional Director, for a grace period to be able to fully pay any deficiency estate tax that would be imposed on you; that meanwhile, you went ahead to produce supporting documents and evidences to prove your claim; that fortunately, your arguments prevailed and you were privileged with a revised computation which you paid in full on March 15, 1996. In reply, please be informed that in view of the aforecited justifiable reasons for the delay in the payment of the subject estate tax of the late Francisco Tantoco, Sr. for a period of thirteen (13) days on the ground of the Bureau's error in using a residential zonal valuation on what is actually an agricultural property, and since you already paid the estate tax and the corresponding interest due thereon based on the revised computation, we are hereby granting your request for waiver of the surcharge being imposed to you for late payment of the subject estate tax. Very truly yours, LIWAYWAY VINZONS-CHATO Commissioner of Internal Revenue