PROBLEM 2

Gross Estate Real Property 3,750,000.00 7,500,000.00

Other Property 413,500.00 12,400,000.00
65,490,000.00
Personal Property 25,000,000.00
3,210,000.00
2,467,788.00
1,350,771.00
645,000.00
5,000,000.00
Taxable Transfers 2,400,000.00
1,100,000.00
Total Gross Estate 7,663,500.00 123,063,559.00
Less: Deductions
Ordinary Deductions CAE 12,500,000.00
UM 2,000,000.00
UT 168,333.33
CAIP 5,000,000.00
16,372,500.00
5,663,500.00 89,022,725.67
Vanishing Deductions - -
Special Deductions
Standard
Family Home
Spouse
Net Taxable Estate
Estate Tax Rate
Estate Tax Due and Payable
 PROBLEM 1
11,250,000.00 0 1
12,813,500.00 0 2
65,490,000.00 0 3
25,000,000.00 1 4
3,210,000.00 0 5
2,467,788.00 0 6
1,350,771.00 0 7
645,000.00 1 8
5,000,000.00
2,400,000.00
1,100,000.00
130,727,059.00

36,040,833.33
94,686,225.67

5,000,000.00
9,950,000.00
44,511,362.84 59,461,362.84
35,224,862.83
0.06
2,113,491.77
Mr. dela Vega has an existing TIN with the BIR RDO No. 81 – Cebu City North. The executor can use this TIN in preparing the es
Mr. Corpuz, the executor, is from Minglanilla, Cebu and is registered with the BIR RDO No. 83 – Talisay City. He can go to RDO
The valuation of an independent real property appraiser is needed in order to get the fair market value of the real properties o
The fair market value of the residential house and lot where Mr. dela Vega and his family resided at the time of his death may
Assuming that Dela Vega Distilleries, Inc. does not list its ordinary shares with the Philippine Stock Exchange, the fair market v
The deadline for the filing and payment of the estate tax return for the estate of Mr. dela Vega will be on March 1, 2021.
The estate tax return should be filed and the related tax due be paid in the accredited agent bank of the RDO where the estate
The ownership of the properties previously owned by Mr. dela Vega cannot be transferred to his heirs in the records of the Re
ate of Mr. dela Vega.

r Special Deductions – Family Home, subject to the limit of P10,000,000

dela Vega in the said company may be computed using the par value of the said shares

other government agencies until and unless the estate tax thereon has not been paid and an eCAR has been issued by the BIR.
n issued by the BIR.