Practice question
What event generally causes estate tax to accrue?
- Registration of an heir’s new business
- The decedent’s death
- Every later sale by an heir
- The first family meeting
- The date a bank account earns interest
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.