B® PRISM craAvns 1% Comper, National Hutwey, City of Binon Laurie nae 545 070° GC) @ ED vriancpurowow OLIVER BAUTISTA (@ +0922 992 o124 TAXATION TAX 1102 Donor’s Tax QL. An act of liberality whereby one disposes gratuitously a thing or right in favor of another who accepts it a. Succession b. Occupation Donation : Tradition Q2. It is a tax imposed on the exercise of the donor's right during lifetime to transfer property to others in the form of gift . Estate tax Donors tax . Property tax d, Income tax 3, Which of the following statements is 2 ‘A transfer is gratultous or without cSreideration and accordingly qualifies as 2 donation, if no economic benefit measurable in money or money's worth flowed to the transferor from the transferee, b. Agratuitous transfer is always subject to donor's tax Fy com ve osfeh fx c. Adonation on which the donor's tax was not paid is not a valid donation +: d. Title to the donated real property can be transferred to the donee in ther Register of Deeds even if the danor’s tax on the donation had not been paid. Q4, Donor's tax is a. A property tax b. A personal tax Abusiness tax An excise tax QS. A gift occurs when the donor surrenders control over the property Ther Q6. If the donor retains an unlimited power to revoke the gift, it ts clear that gift has occurred. Fele, the hansfer 1) WA alnolste Q7. The transfer of property by gift is perfected from the moment the donor knows of the acceptance by the donee; it is completed by delivery, either actually ‘or constructively, of the donated property to the donee. Tre 8. Which of the following donations inter vives may not require that it be in writing? Donation of personal (movable) property, the value of which exceeds PSK. Donation of personal (movable) property, the value of which is PSK <. Donation of real (immovable) property, the value of which is less than PSK 4. Donation of real (immovable) property, the value of which exceeds PSKte Hs correct? he made orally or in writing ne following statement which oft ; roperty may donation erg ett ova property donated excoade Praia shall be a b. the ve writing, otherwise, * acepance st es te ting. Gneous delivery of the thing oF of the A oral donatio’ Fung the right donated document rep! 4. Allof the above . n for purposes of the donor's id. The following are the requisites of 2 donatior tax, except one ‘a. Capacity of the donor (B) Capacity of the donee » cetivery of the subject matter oF gi ¢. Donative intent sideration” means money OF equal value or some goods or service ¥ being evaluated in money Tit red only in indirect gift False acceptance of the donation must be Qii. “Con: capable of : itis on alesolule ret Q12. Donative Intent is requit Q13, For the donation to be considered valid, made: 2. During the lifetime of the donor only During the lifetime of the donee only @ During the lifetime of the donor and the donee : a. None of the above Q14, Which of the following statement is correct? >. Donation is perfected not from the time of acceptance but from the time of knowledge of the donor that the donee has accepted the donation b. Acceptance must be made during the lifetime of the donor and of the donee ¢. Donation made to conceived and unborn children may be accepted by those person who would legally represent them if they were already born (AN of the above Qus. ae is pot true? @, The donation is perfected oni Ths gona perfec ly From the moment the donor knows of the \Vitiated consent renders the donation voidable g) Acceptance may be made after the lifetime of the donor F, dumrs the (pefae op jonee must accept the donatic Doron sthrvise the dentin Sh beset oT aah an meter 16. SUE Rasress of the relationship to the donee, donation made by the donor effectivity of TRAIN law. F, Gd Iw pc poner ieee eden Q17, Which of the following e onstit y 2 transfer of property without eoneeigtieg nee ose b. sales, exchi othe the extent thatthe value of he prope ee ascent or money's worth erty exceeds the value I 2) bathe North of the consideration received therefor mere oe: G, neither a nor b Page Bol www. priemcparev ew.com TAK 1102\ ROM cha REVIEW Q18. Which of the following ts subject to donor's tax? 1. Condonation of debt due to rendition of service “0 ¥¥ " 11. Condonation of debt made by a corporation in favor of its shareholders HIE Contribution in cash or in kind to any candidate, political party or coalition of parties for campaign purposes) 4 ode a. Tonly b. Monty ! 1 . Mand Il only @)None of the above 219. Which of the following transactions is deemed a taxable gift? (2 Condonation or remission of a debt + ‘b. sale of residential house and lot for less than adequate and full consideration in Money or money's worth- Gu y)ec # 1 ¢ both a and b d. neither a nor b Q20. Where a property that has been subjected to the final capital gains tax is transferred for less than an adequate and full consideration in money or money's worth, the amount by which the FMV of the property at the time of transfer exceeded the actual consideration shall be deemed gift and shall be included in the computation of gifts made during the calendar year. [ |<: ST mio ‘Q21: A donation inter-vivos by the husband and the wife jointly during the marriage is a donation of each spouse to the extent of one-half that will require Separate computation for two donor's taxes, under whichever property relationship exists between the spouses. “Tey Q22. On January 15, 2018, Jose sold a vacant lot held as capital asset for P6E0OK to his brother-in-law. The assessed value and zonal value of the land were P75OK and PAM, respectively. The sale ls subject to: subjecl 42 C&t 6's Q23. If the property sold is used in business, the sale is subject to: q, 0 Q24. On January 15, 2018, Jase donated a vacant lot held as capital asset to his brother-in-law. The assessed value and zonal value of the land were P7S5OK and PIM, respectively. The land had an unpaid mortgage of P200K, which was not assumed by the donee and an unpaid realty tax of P10K which was assumed by the donee. The donation is subject to; 44 poe Donov's far Q25. Which of the following is subject to donor's tax? a. Those made between persons who were guilty of adultery or concubinage at tthe time of the donation ~ V0! Those made to conceived and unborn children d e. Those made to a public officer by reason of his office ~ ¥°! d. Those made between husband and wife during their marriage ~ue\d 26. Who is not subject to the donor's tax? ‘2. an individual making a donation b. @ corporation making a donation . a partnership making a donation qiet 1° @ anemplayer who pays premiums on the Ife insurance ofits employee usr t+ Gopeores) Pages 7 wer. priamcpareviw.com ‘Tax 102PREM A " ue Q27. In all cases, vold donations are not subject to donor's tax & VIEW hall be void. Tale between the spouses during their marriage $I ; aS Sa ence no see tee SIR fiver dung ior er od ™ 29 te 3 Juliet, a Filipina made the following donations: To Nick, a land worth P4SOK in Manila . To Resalee, jewelry worth 300K in me To Adalind, PLOT shares amounting To Renard, a building in Italy P1.6M mortgaged for PSOK assumed by the donee ¢. To Drew, land in Davao warth P300K f, P300K cash, PNB New York to Hank 9. P200K receivable, 50% condoned by Juliet ange Selling Price: Fv Car, Makati 200,000 300,000 Car, Malaysia 300,000 200,000. Rest House, tagaytay 1,000,000 © 2,000,000 Rest House, Malaysia 1,500,000 2,500,000 Q29. How much Is the gross gift? 4.100 007 Q30. If she is a NRA, her gross gift is? [; 100 COO Q31. If she is a NRA, and there is reciprocity law, her gross gift is? 550,000 Q32 A gift that is incomplete because of reserved powers becomes complete whens 1. The donor renounces the power IL. The right of the donor to exercise the reserved power ceases because of the happening of some event or contingency or the fulfillment of some condition, other than because of the gonor’s death -ptiate- tox ind II are correct and Il are incorrect €. Only Tis correct 4, Only IL is correct Q33, If the gift is made, it shall be appraised at its: a, FH as of the time the donor's tax return is filed FMV as of the time of donation Historical cost at the time the donate d. Value in hand of the donor Shakes prune es eotulred Q34. In 2018, Caroline donated P110K to her fri married. Caroling gave no gift during the cal implication on Caroline's donation? > 40 io end Vicky who was getting * year, What is the donor's tax on Q35. A married couple donated in 2018 a rope 3s conjugal property to their son who is 9 oe ‘Which of the following statements \S incorrect in connection with ~ (aneoeract : Tis sete 'S the proper claimant of the dowry, being the head of the : ee tahoe it us sual file two separate donor's tax returns 4. The grose oft oF he (eSSANE Calm PLOK dawry each conjugal property jand-shall be one-half of the value of the donated : tage bt wane priemepareview.com br% \ Q36. Which of the following is_not a deduction from the gross gifts? ’@. Unpaid mortgage on the donated property assumed by the done « b. Unpaid real estate tax on the property donated assumed by the done ¢, Diminution on the donated pmperty specifically provided by the donor (@ Unpaid donor's tax on the property assumed by the donee Q37. All of the following except one are exempt from gift tax under special laws 3. Donation to Integrated Bar of the Philippines b. Donation to Development Academy of the Philippines Donation to Philippine Institute of Certified Public Accounts Donation to Intemational Rice Research Institute Exemption under Special Laws 1. Intemational Rice Research Institute 2 Ramon Magsaysay Foundation 3. Integrated Sar of the Philippines 4, Development Academy of the Philippinas 5, National Museum 6. National Library 7. Archives of the National Historical Institute 8. Museurn of Philippine Costumes 9, Intramuros Administration | gave @ property with a FMV of P2M, with unpaid mortgage of ‘by him to his son, Daniel and Daniel's bride Emily, on account of their marriage 15 months ago. Q38. The allowable deduction is? Leve¢e) Q39, The donor's tax payable for the taxable year 2018 is? 16g .coo Q40. Pedro gave gifts to the following persons on June 12, 2018, his 40% birthday: ~ A second hand car worth P3SOK to Kaskasero, his trusted driver, The donation was made: Since then, the driver had taken possession of the property void "To his Mayordoma, Ms Mercy, 2 lot with a bungalow thereon, the value of the property is P1.2M. The donation provides that it may be revoked anytime at the pleasure of Pedro. - estate tox praeaa His flower shop worth P700K to Mardinero, his gardener, The donation is provided in his.will. . evian. toa = Cash of POOK each to his 3 long-time friends, How much is the donor's tax due on the above donations? 3,000 Land 42 Pedro, single, donated the following properties on September 12, 2018: i Ar lt, ates oP rings iat, gfnend rem ang im Kore Kay, niece, donatien rs embeded in the will = Sy ote toe Q41. The donor's tax payable on the donation to stranger is? < 100 Q42. The total donor's tax payable in 2018 is? 1\|, eae ne Page $f wie? wena. priameparevia.com Taw 1102 aREBECA REVIEW TAX CREDIT 1018: fuck “Saent allen, made the following donations for the year 2 ar rth P700K in the Philippines legally adopted child), Car wor n on 1 ae aah Car in Canada worth P300K. The donor's tax pal Canada was $200 ($1 = P45) July 20 js rapaine : jece in Manila), P200K worth of personal prop : Te ome {oarcmate avshter ‘on account of marriage, July 18, ae i. Manila, worth P4OOK but mortgaged for P2O0K, ¥ of which was assui the donee. Q43. The gift tax payable on April 15 would be? J oo Q44. The gift tax payable on July 20 should be? 30,000 Q45. Julia made the following gifts to his relatives in 2018 Pre Usa uk Tay owe ihe 780,000 $00,000 0,000 500,000) Deaetiona — 280,000 200,000 0,000) 150,000 Tam pai wcoo 12,000 10,000 ‘The donor's tax payable after tax credit is; 90,£00 DEADLINE FOR FILING AND PAYMENT OF RETURN The donor’s tax return shall be filed within 30 days after the date the gift is made of completed and the tax due thereon shall be paid at the same time that the retum is filed (TRAIN LAW) NOTE: Unlike in estate taxation, extension of the period to file and pay the donor's tax return is not allowed PLACE OF FILING 1) Except In cases where the Commissioner otherwise permits, the return shall be filed and the tax paid to the following where the donor was domiciled at the time of the transfer, or if there be no legal residence on the Pi of the Commissioner: n the Philippines, with the Office a. An authorized agent bank b. Revenue District Officer ¢, Revenue Collection Officer or 4. Duly authorized Treasurer of the City or Municipality 2) In the case of gifts made by a nonresiden it, the return may be filed with: Phili e , ” ofthe Carter er vest nh he ses a eee edemeed atte me the officer of the Commissioner. COMPLIANCE REQUIREMENTS Q46, For donation: eae 3 made on or after January 1, 2018, the donor's tax return shail 2. Six months after the date the ‘Two months alter the date Nt erieesomeden seis vax 1102| - Q47. Unless the Commissioner otherwise permits, the donor's tax return shall be filed and the tax paid to the: T. Authorized agent bank (AAB) under the jurisdiction of the RDO where the donor is domiciled at the time of the transfer I. Revenue District Officer or Revenue Collection of Officer having jurisdiction over the place where the donor is domiciled at the time of the transter Il, Office of the Commissioner if the danor has no legal residence In the Philippines Iv, Philippine Embassy or Consulate in the country where the donor is domiciled at the time of the transfer or directly to the office the Commissioner, in the case the gifts made by a nonresident. a, Land ITanly b. 1, Hand £11 only . |, Hand Iv only @)Alof the above 48. Only one return shall be filed for several gifts (donation) by a donor ta the different donees on the same date. True, 949. IF the donation involves conjugal or community property, each spouses hi file separate return corresponding to his or her respective share in the conjugal or community property. TX@, 50. If on any one date, there Is a donation by one donor to his relative and another one to 2 stranger, there will be two separate donor's tax retum to be filed. False . fran the donor rat Aur donee Q51. In donor's tax, no extension of tine for filing the donor’s tax return Is allowed. 7 yne Q52. When the donar has no legal return shall be filed with ‘a. Authorized agent bank b. Revenue District Officer where the donor is domiciled ©. Revenue Collection Officer where the donee is domiciled @ ‘Office of the Commissioner QS53. Husband and wife are considered as separate and distinct taxpayer for purposes of the donor's tax. vie QS4, When the donor's tax was filed and it was found out by the BIR to have Seis which gave rise to a deficiency donor's tax, the donor might be required to pay the deficiency although he did not pessess or own the property anymore. | yw residence in the Philippines, the donor's tax is not bound by any agreement between the donor and the Q55. The Government hall pay the donor's tax instead of the former “T we donee that the latter s! OT WILL BECOME WHAT T DO AND WHAT I BELIEVE EVERYDAY © Pape Tl? ‘weeprismcpareview.com Tax 1102ov ard thon O08 (tell iewues Comers, Husianes eset cavers win anne sonsaa oan osee CD) CP QD GD eerancscrrevierw TAXATION OLIVER BAUTISTA TAX 1101 Estate Taxation TRANSFER TAXES QL. Which of the following statements |¢ false? Transfer tax is a, Imposed upon gratuitous transfer of property b, Of two kinds: estate tax and donors’ tax ¢, Classified as national tax None of the above SB PRISM crAwven ha OF Diener Leagues Q2. Gratuitous transfer or donation is subject to transfer tax. Try Q3. A donation which takes effect at the time of death of the donor Is a donation ‘mortis causa subject to estate tax while donation which takes effect during the lifetime of both the donor and the donee is a donation inter-vivos subject to donor's taxTyye/ Q4, Estate tax is a. A property tax because it is imposed on the property transmitted by the decedent to his heirs. b. An indirect tax because the burden of paying the tax is shifted on the executor or any of the heirs of the decedent. © An excise tax because the object of which i the shifting of economic benefits ‘@nd enjoyment of property from the dead to the living, d. A poll tax because it is also imposed on residents of the Philippines whether Filipino citizens of not Q5. Which of the following statement is correct? a. Estate taxation is governed by the statute in force at the time of death of the decedent b. Estate tax accrues as of the death of the decedent & ‘Succession takes place and the night of the State to tax the privilege to transmit the state vests instantly upon death GD All of the above Q6. Which of the following is incorrect? a. Estate tax is an excise tax. It is a tax on the Fi and on certain transfers which are made by la disposition. b. Estate tax '¢ an ad valorem tax. It state transferred. © Upon effectivity of the TRAIN Law, estate tax is a proportional tax. It r based on ane longer based on # graduated tax rate but to a fixed rate of 6% on the net estate @ Estate tax is a specific tax Q7. The taxpayer in estate tax is a. The decedent The estate as a juridical entity 4d. The administrator oF executor QB. Who has the personal lab: ily to pay ee Pay estate tax? The heirs oF succ b. The estate as a juridical entity ine administrator or executor ight to transfer property at death ww the equivalent of testamentary 's assessed based on the net value of the ¢ The heirs or successorsprot CPA REVIEW 'SSTON hose property CONCEPT OF an ‘general term applied to te pore hie ® Q9. Deced through succession, whether or not he le L Ti transm son called to succession either by provision of 2 will or by pe Q10. An heir is a operation of law. Tyye 11. Which of the following could legally ? Ley vitae of a will Il. By onerous transfer 11. By the operation of law effect transfer of properties through 1 and III only a. 1 only « (BI and I only d. 1, 1 and 11 Q12. The following are the elements of succession, except a. Decedent b. Estate. Heirs Executor COMPOSITION AND VALUATION OF THE GROSS ESTATE COMPOSITION OF THE ESTATE MAY BE SUMMARIZED AS FOLLOWS: D Gross Estate Seesusrtor Chey. roparty (Real or Persona wheraver stated ) 2 Intargble personal property wherever stuated NorResident Alen 1. Real property stuated ni the Php Ra) 2 Tangble personal property situated in the Pro 3. Intangble personal property with stus in the Pro, unless excluded on the basis of recbractty as descr bed bebw Reciprocty clause = No tax shal be Imposed wth respect to intangble personal property of a NRA stuated the Php 1. When the foreign country, where such NRA i6 a resident and cen, does not Impose transfer Lax wth respect: to ntangbie personal property af FEIPINO ctzen rot resting mi that country, of 2. When the foreign country mposes transfer taxes, but grants similar exemption With respect te nitangble personal properties of FILIPINO cittzens not residing nh that country Q13. One of the following is subject to estate tax on Properties situated within the Philippines only a. resident citizen ¢. nonresident citizen . resident alien @ nonresident alien Q14. As a general rule, the situs of tangible personal property is the place or he applicable donor's tax was not paid by the donor) January ts ame on the above property up to time of death 1,200,000 eayeecral experaes 420,000 4 ‘ineral expense 420.0004 expenses Judicial Ore cured on December 10, 2018 900 ims toeinat the estate 1,600,000 Medical cepenses within 1 year prior to death, 4,000,000 only half was receipted 60. How much is the net taxable estate under Conjugal Partnership of Gains? Q61. How much |s the net taxable estate under Absolute Community of Property? [%4t 006 ai careers io stones SL cam enone EE ctcsonsoes nga or 2 Properties acquired during marriage From exclusive property Exclusive Exclusive From comrron property Common Common Thore obtain from labor. industry, work oF prolestion of elther or both spouses Common Common From gratuites transfer (Inheretance or donation) Conjugal Partnership of Gain (CPG) Z Exclusive Absolute Community of Property (ACP) Generally Exclusive - The donor / testator expressly provided ‘that It shall form part of the community property Common - 3 Fruits or income on properties: Apply the ff rules ACB: the fruits shall follow the source (CG: All fruits are common, — | «4 Property for personal ane exc! aie on clusive use of either spouse eet cath ace Exclusive Exclusive Common ESTATE TAX CREDIT 82. In computing the es 2 credit for taxes paid abraaee ok Which of the following shall not be allowed tax a. Resi ident alien decedent ©. Resident citizen decedent Poe 18 ota Nw ptlamepareview.com Tax 1301PRISM CPA REVIEW b. Non-resident alien decedent redit refers to the taxpayer's right to deduct paid to a foreign country. deduction If estate for d, Non-resident citizen decedent t from the tax due Q83, Estate tax < the amount of tax it has h taxes pertain to QG4. Estate tax credit could be claimed as 2 a one eee ps properties which are included in the gross computation QGS, Estate tax credit is allowed by law to lessen the FahnGee c teaeplpcie double taxation where the same estate is being subject to tax and the Philippine estate tax. Q86. Nonresident alien decedents are not entitled to estate fax credit. 87 a88. A citizen-decedent died in 2018 with the following data: Philippines USA Gross estate 14,200,000 4,400,000 Allowable deductions 6,400,000 2,200,000 (excluding standard deduction) Estate tax paid - 150,000 Q87. How much is the estate tax payable in the Philippines assuming the decedent is 3 non-resident citizen? Q88, How much is the estate tax payable in the Philippines assuming the decedent is a non-resident alien? Q89, Mr. Bombo, Filipine died on April 10, 2018 with the following data: Gross Allowable Estate Countries Estate Deductions tax paid Philippines 1,875,000 1,575,000 China 300,000 150,000 3,750 Japan 450,000 525,000 - USA 600,000 225,000 18,000 ‘The estate tax payable in the Philippines is: COMPLIANCE REQUIREMENT Q90. The estate tax imposed under the Tax Code shal administrator before the delivery of the distributive si any heir or beneficiary. Tp ue be paid by the executor or hare in the inheritance to Q91. The executor or administrator of an estate has the primary obi the estate tax but the heir or beneficiary has subsidiary abulty fooparby ina portion of the estate joel fiat atate. Wee to his distributive share in the value of the coments er sortumcparenten com Seah nen® ene wwe prhmepereviaw.com sacra REVIEW a decedent died upon the effectivity of TRAIN law, under which of the “a jations an estate tax return Is not required to be filed? iti following erwhich are subject to estate tax a fate consists of registered or registrable properties for which a 0 ye BIR is required as a condition precedent for the transfer monn sothe gross value of the estate consisting of non-registrable properties does not ‘exceed PSM i ig, None of the choice 3, who shal file the estate tax return? @?3,ecutor or administrator or any of the legal YE creditor of the decedent » Sersonal secretary of the decedent 5 Gebtor of the decedent she estate tax return shall be filed and payment made with San Authorized Agent Bank (AB) of the RDO having jurisdiction over the place 2 Pacigence of the decedent at the time of his death tr tnere is no AB within the residence of the decedent, the estate tax retum + wipe Tied and the payment made With the Revenue Collection Officer or duly ‘Authorized City ar Municipal Treasurer of the RDO having jurisdiction over the place of residence of the decedent. petf the required filer has no legal residence in the Philippines, the estate tax retur wil be filed with the Office of the Commissioner or in the Philippine Embassy or Consulate in the country where the decedent was residing at the time his death @ All of the above. Q35. If the decedent died upon the effectivity of the Train Law, the estate tax return should be filed a. at the time of death cc. within six months after death >. within 30 days after death @ within one year after death Q96, The Commissioner or any of the Revenue Officer authorized by him Pursuant to the Tax Cede shall have the authority to grant, in meritorious cases, 3 reasonable extension not exceeding 30 days for filing the return. TRUE Q87. The application for the extension of time to file the estate tax must be filed with the RDO wher file tax return of the esas: Sue the estate is required to secure its TIN and x In fing the estate tax return of a decedent who died upon the effectivity of Gro IN Law, a CPA certificate is required when: bg ss estate exceeds P2M —¢, Gross estate exceeds P10M mssestate exceeds PSM —d. Gross estate reaches P2M siete following is not a content of the statement certified to by # CPA asset of the decedent with their corresponding gross value at the time of his death or in case of 1 f his gross estate situated in the Philippines. non-resident alien of that part of a b. Itemized deductions from gross estate The amount of tax di dig fied copy of pa Ie Paid or still due and outstandingPRM CTA REVIEW \s granted, the Commissioner or he executor or administrator or 100. If an extension for payment of estate ta* ‘h amount, not exceeding ire ‘his duly authorized representative may requi beneficiary as the case may be, to furnish a bond in $4 double the amount of the tax. ry due date of the estate (ax, but within tutor S80) a) a Oa re pts terest but not to surcharge. TPue the extension period, shall be subject to in here the request 102. No extension for payment of estate tax shall be granted W S extension is by Tensor of negligence, intentional disregard of rules and regulabons or fraud on the part of the taxpayer. TRUE Q103. Can the estate tax be paid in installment? Gres, 9 ease the available cash of the estate is no! liability 'b. Yes, at the option of the heirs with corresponding interest charges . No, tax is the lifeblood of the State, hence, collection cannat be delayed under any circumstance . none of the above t sufficient to pay its estate Q104. A decedent who maintains a bank account died in March 12, 2018. Which of the following statement is correct? ‘Statement 1: Ifa bank has knowledge of the death of a person, wha maintained @ bank account alone, of jointly with anather, it shall allow the withdrawal from said deposit account, subject toa final withholding tax of 6% of the amount to be withdraw, provided, that the withdrawal shall anly be made within one year from the date of said decedent, Trve. Statement 2: In all cases, the final tax withheld shall not be refunded, or credited on the tax due, on the net taxable estate of the decedent. [V4 a. Only statement 1 is correct Both statements are correct b, Only statement 2 is correct |. Both statements are incornect QIOS. Which of the following statement is correct? a. There shall not be transferred to any new owner in the books of any corporation, sociedad anonima, partnership, business, or industry organized or established in the Philippines share, obligation, bond or right by way of gift inter-vives or mortis causa, legacy or inheritance, unless an eCAR is issued by the Commissioner or his cot ater representative 7 b. In instances where deposit accounts have been duly included i estate of the decedent and the estate tax due thereon oe Rolfe administrator, or any of the legal heirs shall present the eCAR issued for the said rae ror bo withdrawing from the bank deposit account. 7 c. The withdrawal describe in letter 8 shall no longer be subj withholding tax by the bank “] ie EDEL SS the OMe (pall of the above @ CONSISTENT IS ALSO KNOWN AS EVERY SINGLE DAY! IT NEVER ENDS O Poge 18. 18 Hew prlamcpanestew.icom TAK Lion &