BIR Ruling [UN-337-95]

September 18, 1995 BIR RULING [UN-337-95] Ms. Maria Elizabeth Ascue Taruc 2/F State Condo. I, Salcedo St., Legazpi Village, Makati Metro-Manila M a d a m : This has reference to your letter dated January 3, 1995 requesting extension of time within which to pay the estate tax due on the transmission of the estate of your late mother, Elisa Santos Ascue to the heir, upon her death on May 3, 1994. It is represented that in compliance with Section 82 of the Tax Code, you sent a notice of death to the Revenue District Officer at North Quezon City within two (2) months from the death of your mother and filed the estate tax return on November 2, 1994, within the reglementary period of six (6) months required by the Tax Code; that due to financial constraint and the health condition of your father, the estate tax has not as yet been paid up to the present; that there is a need to convert the properties to cash in order to satisfy the said tax; and that you are ready to offer as payment your property in Lagao, General Santos City or in Novaliches, Quezon City. In reply, please be informed that your request for extension of time within which to pay the estate tax liability of the estate of the late Elisa Santos Ascue is hereby granted for a period of not exceeding one (1) year pursuant to Section 84 (b) of the Tax Code, as amended. It shall be understood that the estate shall be liable to the corresponding interest that have accrued thereon up to the time of filing and payment of the estate tax. aisadc Very truly yours, LIWAYWAY VINZONS-CHATO Commissioner of Internal Revenue