R.I.P. Project Nets Seven-Figure Tax Collections for Southern Leyte BIR

---

MAASIN CITY --  In life, according to an old saying, only two things are certain, death and taxes.


But even in death, a person who has left a sizeable wealth behind is still subject to be taxed, through the Estate Tax.


“Through Project Rest in Peace (R.I.P.), the Bureau of Internal Revenue (BIR) is targeting to increase the number of Estate Tax Returns filed to 250,000 and the Estate Tax collections to P 10.7 Billion” nationwide, the tax agency said in a statement following the launching of the R.I.P. project early this year.


For areas covered by RD 90 that included this city and Southern Leyte province, Revenue District Officer Noemi Pizon expected a substantial collection on estate tax this year as Project R.I.P  is implemented.


However, she pointed out, even before the project took into effect, taxpayers in her area of coverage were quite aware and compliant in paying the Estate Tax, and due diligence to this requirement was duly observed, said RDO Pizon during an interview at her office yesterday.


Pursuant to Sec. 84 of the National Internal Revenue Code (NIRC) as amended, estate tax is collected and paid upon the transfer of the estate of the decedent to his lawful heirs. The estate tax is payable within six (6) months from the decedent’s death. The liability for payment of the tax lies on the executor or administrator of the estate or the legal heirs.


“There are cases in our district that heirs paid as much as seven-figure estate tax dues,” Pizon said without providing details.


To attain their targets, BIR field offices are instructed to “closely monitor potential Estate Tax cases by establishing linkages with and accessing the records of the Civil Registers, hospitals, memorial parks, cemeteries, funeral parlors, crematoriums, Judicial Clerks of Courts, obituaries, life insurance companies and other financial institutions,” the BIR statement said.


It added:  “The RDOs are also directed to send Notification Letter to the relative/administrator of the decedent, advising and reminding him/her of the requirements and due dates for filing of Notice of Death and Estate Tax Returns, and the payment of Estate Taxes.”  (PIA-Southern Leyte)