  |
REPUBLIC ACT NO. 8424, SECTION 3 THE NATIONAL INTERNAL REVENUE CODE OF 1997
| CODE SECTION 84 |
|
REPUBLIC ACT NO. 8424, SECTION 3 THE NATIONAL INTERNAL REVENUE CODE OF 1997
| CODE SECTION 84 |
"TITLE III - ESTATE AND DONOR'S TAXES
"CHAPTER I - ESTATE TAX
"SECTION 84. Rates of Estate Tax. - There shall be levied, assessed, collected and paid upon the transfer of the net estate as determined in accordance with Sections 85 and 86 of every decedent, whether resident or nonresident of the Philippines, a tax based on the value of such net estate, as computed in accordance with the following schedule:
"If the net estate is:
|
Over |
But Not Over |
The Tax Shall Be |
Plus |
Of the Excess Over P200,000 Exempt |
|
P200,000 |
500,000 |
0 |
5% |
P200,000 |
|
500,000 |
2,000,000 |
P15,000 |
8% |
500,000 |
|
2,000,000 |
5,000,000 |
135,000 |
11% |
2,000,000 |
|
5,000,000 |
10,000,000 |
465,000 |
15% |
5,000,000 |
|
10,000,000 |
And Over |
1,215,000 |
20% |
10,000,000 |
