Estate Tax in the Philippines

The Philippine estate tax is a flat 6% on the net estate, as reformed by the TRAIN Law (Republic Act No. 10963). The net estate is computed by deducting allowable deductions from the gross estate. Key deductions include: a standard deduction of PHP 5,000,000, the family home (up to PHP 10,000,000), and debts of the decedent. The estate tax return must be filed and the tax paid within one year from the date of death, extendable up to 30 days. Failure to file results in a 25% surcharge plus interest.