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Death and Taxes (Estate tax discussion)

HHubs

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Space Stone
Linawin ko lang.
I am not pro-BBM but I am ABL (Anyone But Leni)
I am not a lawyer. My opinions are based on sources na kaya kong mahanap online.

Sobrang hot ng topic na ito and I think it deserves its own thread.
Feel free to discuss and share your opinions.
Keep it civil and please abide by our Forum Rules

What is Estate Tax:

Estate Tax is a tax on the right of the deceased person to transmit his/her estate to his/her lawful heirs and beneficiaries at the time of death and on certain transfers, which are made by law as equivalent to testamentary disposition. It is not a tax on property. It is a tax imposed on the privilege of transmitting property upon the death of the owner. The Estate Tax is based on the laws in force at the time of death notwithstanding the postponement of the actual possession or enjoyment of the estate by the beneficiary. Source



Current issue:

Marcos heirs' 23 billion estate tax final and executory. Source 1 and Source 2

My opinion:

Sa aking pagkakaintindi:

Hangga't hindi nababayaran yung estate tax, mananatiling nakapangalan kay Ferdinand E. Marcos (FEM) ang mga nasabing ari-arian at hindi maililipat sa mga tagapagmana. Source (see item #6)

May kakayahan bang bayaran ng mga tagapagmana yung 23 billion? Hindi ko alam. Or sa case na ito, ayaw bayaran dahil daw may ongoing cases pa. Source

Kung ayaw nila bayaran o wala sila kakayahan na bayaran yung estate tax, hindi nila mapakikinabangan yung "mana". So kung tutuusin, they can forfeit the assets / properties in question at hayaan na lang na gobyerno ang magbenta ng mga ari-ariang ito to produce the 23 billion tax due. Source

My take is that ito yung gusto ng mga Marcos. Let the government sell the properties and in the process, kapag nabayaran na yung 23B, automatic malilipat na sa kanila yung natirang assets (kung meron) since bayad na in effect yung estate tax

The BIR has in fact tried to sell / auction some properties pero walang gustong bumili. Sa madaling salita, the agency failed to produce the 23B since it is within their authority to use said properties as payment. Gobyerno na ang may hawak nung properties mula pa noong lumabas yung 1997 / 1999 decision. Source

According sa news cycle this week, the spotlight is now on BIR at may balak pa magpatawag ng senate hearing. Bakit daw hindi nila siningil ng maayos? Bakit hindi nila maibenta yung properties para pambayad dun sa 23B? Source

Bakit sa tagal na yun (23 years?) ay hindi sila maka singil or bakit hindi nila maibenta yung seized properties? Bakit hindi kasuhan si BBM as executor ng estate for his failure to pay the 23B pesos? Dapat din bang kasuhan yung past BIR comms for its failures? Gusto ko rin ng sagot.

Maaaring dumating yung point na manalong presidente si BBM at tiyak na babantayan ng taumbayan yung mangyayari sa 23 billion pesos na estate tax payment. If BBM does something fishy, hindi malabong magaya siya kay Erap and mapapaaga ang pag-upo ni Inday Sara sa Malacañang (assuming she wins the VP race).



 

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123EiBiSi

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Bantayan natin to ngayon, hahaha.

Actually, nagtataka din ako kung bakit kay BBM ang tama ng unpaid estate tax ng tatay niya. Even if he was the executor(if may Will) or administrator(if no Will) wala siyang liability to pay the Estate tax due unless pinakikinabangan na nila ang estate ng hindi nagbabayad ng tax and the properties won't be transferred if no estate tax paid.
 

Idol ko si Abdul

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Linawin ko lang.
I am not pro-BBM but I am ABL (Anyone But Leni)
I am not a lawyer. My opinions are based on sources na kaya kong mahanap online.

Sobrang hot ng topic na ito and I think it deserves its own thread.
Feel free to discuss and share your opinions.
Keep it civil and please abide by our Forum Rules

What is Estate Tax:

Estate Tax is a tax on the right of the deceased person to transmit his/her estate to his/her lawful heirs and beneficiaries at the time of death and on certain transfers, which are made by law as equivalent to testamentary disposition. It is not a tax on property. It is a tax imposed on the privilege of transmitting property upon the death of the owner. The Estate Tax is based on the laws in force at the time of death notwithstanding the postponement of the actual possession or enjoyment of the estate by the beneficiary. Source



Current issue:

Marcos heirs' 23 billion estate tax final and executory. Source 1 and Source 2

My opinion:

Sa aking pagkakaintindi:

Hangga't hindi nababayaran yung estate tax, mananatiling nakapangalan kay Ferdinand E. Marcos (FEM) ang mga nasabing ari-arian at hindi maililipat sa mga tagapagmana. Source (see item #6)

May kakayahan bang bayaran ng mga tagapagmana yung 23 billion? Hindi ko alam. Or sa case na ito, ayaw bayaran dahil daw may ongoing cases pa. Source

Kung ayaw nila bayaran o wala sila kakayahan na bayaran yung estate tax, hindi nila mapakikinabangan yung "mana". So kung tutuusin, they can forfeit the assets / properties in question at hayaan na lang na gobyerno ang magbenta ng mga ari-ariang ito to produce the 23 billion tax due. Source

My take is that ito yung gusto ng mga Marcos. Let the government sell the properties and in the process, kapag nabayaran na yung 23B, automatic malilipat na sa kanila yung natirang assets (kung meron) since bayad na in effect yung estate tax

The BIR has in fact tried to sell / auction some properties pero walang gustong bumili. Sa madaling salita, the agency failed to produce the 23B since it is within their authority to use said properties as payment. Gobyerno na ang may hawak nung properties mula pa noong lumabas yung 1997 / 1999 decision. Source

According sa news cycle this week, the spotlight is now on BIR at may balak pa magpatawag ng senate hearing. Bakit daw hindi nila siningil ng maayos? Bakit hindi nila maibenta yung properties para pambayad dun sa 23B? Source

Bakit sa tagal na yun (23 years?) ay hindi sila maka singil or bakit hindi nila maibenta yung seized properties? Bakit hindi kasuhan si BBM as executor ng estate for his failure to pay the 23B pesos? Dapat din bang kasuhan yung past BIR comms for its failures? Gusto ko rin ng sagot.

Maaaring dumating yung point na manalong presidente si BBM at tiyak na babantayan ng taumbayan yung mangyayari sa 23 billion pesos na estate tax payment. If BBM does something fishy, hindi malabong magaya siya kay Erap and mapapaaga ang pag-upo ni Inday Sara sa Malacañang (assuming she wins the VP race).



Nanalo na pa at sigurado pong yong Estate Tax na yan ay makakalimutan na. Ganito naman talaga dito sa atin, pag makapangyarihan at may pera ka "untouchable" ka. Pag mahirap ka, madali ka lang makalaboso.
 
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