Checklist of Documentary Requirements – Estate Tax

Posted in Guides on April 18th, 2011 by admin | No comments
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A. Mandatory Requirements (Taxable/Exempt)

  • Tin of Estate
  • Photocopy of the death certificate, subject to presentation of the original
  • any of the following:
    • Affidavit of self adjudication
    • Deed of extra judicial settlement of the estate, if the estate has been settled extra judicially
    • court order if settled judicially
    • sworn declaration of all properties of the estate
  • Official receipts/deposit slip for this purpose and fully validated return as proof of payment

B. For Real Properties if any

  • Certified True Copy of the latest tax declaration issued by the Local Assessor’s Office for land and improvement applicable to the taxable transaction
  • Owner’s copy for presentation purposes only together with the photocopy thereof for authentication or Certified True Copy of Transfer Certificate of Title (TCT), Condominium Certificare of Title (CCT), Original Certificate of Title (OCT)
  • Sworn declaration of No improvement by at least one of the transferees or Certificate of no improvement issued by the Assessor’s Office, if applicable.

C. For Personal Properties if any

  • Certificate of Deposit/Investment/Indebtness owned by the decedent and the surviving spouse duly signed by the Bank Manager
  • Certificate of Registration of Motor Vehicle together with the official receipt/cost of acquisition for the purpose of applying the 20% annual depreciation rate.
  • Proof of valuation of shares of stocks at the time of death
    • a. For listed stocks – certification of the price index from the Philippine Stock Exchange/latest FMV published in newspapers
    • b. For unlisted stocks – latest audited financial statements of the issuing corporation with the computation of the book value per share
  • Such other requirements as may be required by the law/rulings/regulation/other issuances
    • Notice of Death, if applicable
    • Statement duly certified by a CPA containing the itemized assets, deductions, and the amount of the tax due or still due, if applicable.

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