Practice question
A decedent dies in 2026. The net taxable estate is correctly determined under the Code to beP 5,000,000 after all applicable adjustments. What basic estate tax follows before any applicable credits?
- P 5,000,000
- P 600,000
- P 1,000,000
- P 0 merely because there are heirs
- P 300,000
Legal references
- NIRC Sections 84-86, as amended by RA10963: https://lawphil.net/statutes/repacts/ra2017/ra_10963_2017.html
- RR 12-2018 (estate-tax accrual and basic scope): https://bir-cdn.bir.gov.ph/local/pdf/RR%2012-2018.pdf
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