Practice question
A Philippine citizen dies owning property here and abroad. For the basic gross-estate scope, is foreign location alone sufficient to exclude the overseas property?
- No; the citizen’s gross estate generally includes covered property wherever situated, subject to the Code’s rules
- Yes, because citizens can never have worldwide estate coverage
- Yes, because only cash in Manila is included
- Yes, whenever an heir lives overseas
- No deductions can ever apply to any citizen’s estate
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
Answer this question in flashcards to review your response and continue practicing.