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Inheritance Tax

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1 Inheritance Tax on Sat Feb 25, 2012 12:46 pm

lina santos

Arresto Menor
1. What is inheritance tax and who should pay the inheritance tax?
2. How is it computed?
3. Is it compulsory to pay the inheritance tax?
4. Is it permissible in court that the inheritance tax be deducted from the total value of a property included in the Last Will?

Thank you very much.

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2 Re: Inheritance Tax on Sat Feb 25, 2012 3:42 pm


Arresto Menor
Inheritance tax is the tax on the privilege to transfer property after death.

It is computed based on the value of the property base on the rate in the estate tax table on the Internal Revenue Code.

Yes, as the Register of Deeds will ask for you tax payments authorizing the deeds to record the transfer.

Yes, that is allowed and it the practice...

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