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Four bills and a tax: Amending the


estate tax system
By: Anthony Alden Sy Aguilar - @inquirerdotnet 12:01 AM August 10, 2015

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of the show’s episodes revolved around how the “death duties”—the British Awards
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Of course, the age of the great haciendas of the Colonial era being long past,
there aren’t that many enormous properties for which huge taxes have to
be paid when they become someone’s inheritance, but the problems that
accompany the payment of estate taxes aren’t limited to the upper crust of
society and involve many other issues aside from where to get the money to
pay the tax.

More often than not, wading through the interminable documentary


requirements poses an even bigger challenge—any taxman worth his salt
knows that.

In recent weeks, there’s been some talk about moves to abolish the estate
tax. Part of me thinks that proposal isn’t such a bad idea, but the more
prudent side of me also knows that abolishing a particular tax won’t
necessarily solve the problem.

It’s not hard to see why some people aren’t convinced that estate taxes
contribute significantly to the country’s tax collections.

Data from the National Statistics Office shows that in 2010, there were just
over 488,000 registered deaths—no mention, though, of how many of those
individuals belonged to which economic class.

The BIR’s Annual Report for 2013 offered the information that there were FROM AROUND THE WEB
only 28,634 registered estate taxpayers for that year, and taxes on property
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—which include estate taxes—totaled only P3.275 billion, a minuscule 0.269
percent of thetoBIR’s
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