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    Tax

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    Harlene Hemor
    This document compares the estimated estate tax, capital gains tax, and donor's tax in the Philippines. It outlines the key dates and deadlines for payment, methods for determining taxable amounts, applicable tax rates and deductions, penalties for late payment, and calculations for total taxes including penalties and interest. The estate tax is due within a certain period after death, the capital gains tax within 30 days of a property sale, and the donor's tax within 30 days of a donation. All taxes are paid to the Bureau of Internal Revenue and amounts are estimated pending final computations.

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    Tax

    Uploaded by

    Harlene Hemor
    19 views1 page
    This document compares the estimated estate tax, capital gains tax, and donor's tax in the Philippines. It outlines the key dates and deadlines for payment, methods for determining taxable amounts, applicable tax rates and deductions, penalties for late payment, and calculations for total taxes including penalties and interest. The estate tax is due within a certain period after death, the capital gains tax within 30 days of a property sale, and the donor's tax within 30 days of a donation. All taxes are paid to the Bureau of Internal Revenue and amounts are estimated pending final computations.

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    This document compares the estimated estate tax, capital gains tax, and donor's tax in the Philippines. It outlines the key dates and deadlines for payment, methods for determining taxable amounts, applicable tax rates and deductions, penalties for late payment, and calculations for total taxes including penalties and interest. The estate tax is due within a certain period after death, the capital gains tax within 30 days of a property sale, and the donor's tax within 30 days of a donation. All taxes are paid to the Bureau of Internal Revenue and amounts are estimated pending final computations.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    19 views1 page

    Tax

    Uploaded by

    Harlene Hemor
    This document compares the estimated estate tax, capital gains tax, and donor's tax in the Philippines. It outlines the key dates and deadlines for payment, methods for determining taxable amounts, applicable tax rates and deductions, penalties for late payment, and calculations for total taxes including penalties and interest. The estate tax is due within a certain period after death, the capital gains tax within 30 days of a property sale, and the donor's tax within 30 days of a donation. All taxes are paid to the Bureau of Internal Revenue and amounts are estimated pending final computations.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    ESTIMATED ESTATE TAX ESTIMATED CAPITAL GAINS TAX (CGT) ESTIMATED DONOR’S TAX

    (transfer from Deceased to Heirs) (transfer from Seller to Buyer) (transfer from Donor to Donee)
    Date of Death Date of notarization Date of Donation
    DEADLINE Within ______ from DEADLINE Within 30 days from DEADLINE Within 30 days from
    date of death notarization date donation is made

    *Market Value per Tax *Market Value per Tax *Market Value per Tax
    Declaration Declaration Declaration
    *Zonal Value per BIR *Zonal Value per BIR *Zonal Value per BIR
    Estate Tax Standard Deduction *Selling price per Deed of Exempt Gift (P250K)
    (P5M) Sale
    Estate Tax Deductions CGT Tax Deductions NO DEDUCTIONS Donor’s Tax Deductions
    (List c/o BIR) (BIR) (List c/o BIR)
    Taxable Estate (whichever is Taxable Sale (whichever is Taxable Donation (whichever is
    higher between the two * less higher among the three *) higher between the two * less
    deductions, if any) less deductions, if any) deductions, if any)
    Estate Tax Rate 6% Capital Gains Tax Rate 6% Donor’s Tax Rate 6%
    (at time of death) (at time of sale) (at time of death)
    Estate Tax Payable Capital Gains Tax Payable Donor’s Tax Payable
    Period overdue (if not paid Period overdue (if not paid Period overdue (if not paid
    within the deadline) within the deadline) within the deadline)
    Penalty if not paid within 1 Penalty if not paid within 30 Penalty if not paid within 30
    year from death (25% of estate days from sale (25% of days from donation (25% of
    tax due) Capital gains tax due) estate tax due)
    Interest if not paid within 1 Interest if not paid within 30 Interest if not paid within 30
    year from death (6% or 12% of days from sale (6% or 12% of days from donation (6% or 12%
    estate tax due) Capital gains tax due) of estate tax due)
    Total Estate Tax with penalty Total Capital Gains Tax with Total Donor’s Tax with penalty
    and interest penalty and interest and interest
    ALL ARE ESTIMATES ONLY, FINAL COMPUTATION IS FROM BIR ALL ARE ESTIMATES ONLY, FINAL COMPUTATION IS FROM BIR ALL ARE ESTIMATES ONLY, FINAL COMPUTATION IS FROM BIR

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