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Changes brought about by RA 10963 or Tax Reform for Acceleration and Inclusion (TRAIN) Act
(as to Estate Tax, Donor’s Tax, Value-Added tax and Other Percentage Tax)

RA 8424, as amended Upon effectivity of TRAIN


(BEFORE TRAIN)
ESTATE TAX
Rate of Tax Progressive rate (5%-20%) 6%
Deductions:
1. Funeral expense Deductible (actual, 5% of GE or Not deductible
P200,000 whichever is the lowest)
2. Judicial expense Deductible Not deductible
3. Standard Deductible only to resident and/or Deductible to resident and/or citizen
deduction citizen at P1,000,000 at P5,000,000 and to NRA at
P500,000
4. Family home Deductible not to exceed P1,000,000 Deductible not to exceed
P10,000,000
5. Medical expense Deductible up to P500,000 Not deductible
Notice of death Required to be filed within 2 months Not required
from death if gross estate exceeds
P20,000
Estate tax return Required if: Required if:
- There is an estate tax to be paid - There is an estate tax to be paid
- Gross estate exceeds P200,000 - Gross estate consists of
- Gross estate consists of registrable property, regardless
registrable property, regardless of amount
of amount
Certification of CPA Required if gross estate exceeds Required only if gross estate
P2,000,000 exceeds P5,000,000
Time for filing Within 6 months from decedent’s Within one (1) year from decedent’s
death death
Payment of tax Cannot be paid on installment Allowed to be paid on installment
within 2 years (not subject to civil
penalty and interest) if cash is
insufficient to pay total estate tax
due
Payment of tax antecedent If a bank has knowledge of the death If a bank has knowledge of the
to the transfer of shares, of a person, who maintained a bank death of a person, who maintained a
bonds or rights deposit account alone, or jointly with bank deposit account alone, or
another, it shall NOT allow any jointly with another, it shall allow
withdrawal from said deposit account, any withdrawal from the said
unless the CIR has certified that the deposit account, subject to a final
taxes imposed thereon have been withholding tax of six percent (6%).
paid. Provided, that the administrator
of the decedent of the estate or any
one (1) of the heirs of the decedent
may, upon authorization by the CIR,
withdraw an amount not exceeding
P20,000 without the said certification.
DONOR’S TAX
Rate of tax Stranger – 30% 6% in excess of P250,000 whether
Relative – 2% to 15% stranger or relative
Transfer for less than full The insufficiency is deemed as a gift The insufficiency is deemed as a gift
and adequate subject to donor’s tax, except real subject to donor’s tax, except real
consideration property. property.

However, if the sale or exchange


was made in the ordinary course of
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business (a transaction which is a


bona fide, at arm’s length, and free
from any donative intent), will be
considered as made for an
adequate and full consideration in
money and money’s worth.
Dowry of gift given on Exempt up to 10,000 for each No longer exempt
account of marriage legitimate, recognized natural or
adopted children if given before
marriage or one year thereafter
VALUE-ADDED TAX
Zero-rated transactions:
1. Sale of gold to BSP Subject to 0% VAT Exempt
2. Sale of raw Subject to 0% VAT.
materials or
packaging However, it shall be subjected to
materials to 12% VAT when the following
nonresident buyer conditions are satisfied:
for delivery to a. Successful establishment
resident local and implementation o an
export-oriented enhanced VAT refund
enterprise to be system that grants refunds
used in of creditable input tax
manufacturing, within 90 days from filing of
processing, VAT refund application with
packaging or BIR;
repacking in the b. All pending VAT refund
Philippines claims as of December 31,
3. Sale of raw 2017 shall be fully paid in
materials or cash by December 31, 2019.
packaging
materials to Provided, that the DOF shall
export-oriented 0% VAT establish a VAT refund center in the
enterprise whose BIR and in the BOC that will handle
export sales the processing and granting of cash
exceed 70% of refunds of creditable input tax.
total annual
production An amount equivalent to 5% of the
4. Those considered total VAT collection of the BIR and
export sales under the BOC from the immediately
EO 226 and other preceding year shall be
special laws automatically appropriated annually
and shall be treated as a special
account in the General Fund or as
trust receipts for the purpose of
funding claims for VAT refund

Provided, further, that the BIR and


BOC shall be required to submit to
the COCCTRP a quarterly report of
all pending claims for refund and
any unused fund.
Exempt transactions:
1. Importation Importation of professional Importation of professional
instruments and implements, wearing instruments and implements, tools
apparel, domestic animals and of trade, occupation or
personal household effects (except employment, wearing apparel,
any vehicle, vessel, aircraft, domestic animals and personal
machinery, other goods for use in the household effects belonging to
manufacture and merchandise of any persons coming to settle in the
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kind in commercial quantity)Philippines or Filipinos or their


belonging to persons coming to settle families and descendants who are
in the Philippines, for their own use now residents or citizens of other
and nit for sake, barter or exchange, countries quantities and of class
accompanying such persons , or suitable to the profession, rank or
arriving within 90 days before or afterposition of the persons importing
their arrival, upon the production of said items, for their own use and not
evidence satisfactory to the for barter or sale, accompanying
Commissioner, that such persons are such persons, or arriving within
actually coming to settle in the reasonable time: Provided, that the
Philippines and that the change of BOC, may, upon the production of
residence is bona fide satisfactory evidence that such
persons are actually coming to settle
in the Philippines and that the goods
are brought from their former place
of abode, exempt such goods from
payment of duties and taxes:
Provided further, that vehicles,
vessels, aircrafts, machineries, other
similar goods for use in
manufacture, shall not fall within
this classification and shall therefore
be subject to duties, taxes and other
charges.
2. Sale of real Residential lot valued at P1,500,000 Residential lot valued at P1,500,000
properties not and below and house and lot valued at and below and house and lot valued
primarily held for P2,500,000 are exempt at P2,500,000 are exempt.
sale or lease in
the ordinary PROVIDED, beginning January 1,
course of 2021, exemption will apply only to
business sale of house and lot and other
residential dwellings with selling
price of not more than P2,000,000
3. Lease of Monthly rental not exceeding P12,800 Monthly rental of not exceeding
residential unit is exempt P15,000 is exempt
4. Association dues, Not exempt Exempt
membership fees
and other
assessments and
charges collected
by homeowners
association and
condominium
corporation
5. Sale of drugs and Not exempt Exempt
medicines
prescribed for
diabetes, high
cholesterol and
hypertension
beginning
January 1, 2019
VAT threshold Gross annual sales and/or receipts of Gross annual sales and/or receipts
P1,919,500 of P3,000,000
Tax credit
VAT on capital goods If aggregate acquisition cost of capital If aggregate acquisition cost of
goods in a calendar month exceeds capital goods in a calendar month
P1,000,000 excluding VAT, the input exceeds P1,000,000 excluding VAT,
tax shall be spread evenly over 60 the input tax shall be spread evenly
months or useful life whichever is over 60 months or useful life
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shorter whichever is shorter.

However, the amortization of the


input VAT shall only be allowed until
December 31, 2021 after which
taxpayers with unutilized input VAT
on capital goods purchased or
imported shall be allowed to apply
the same until fully utilized
Refunds or tax credits if In proper cases, CIR shall grant a In proper cases, CIR shall grant a
input tax refund or issue the TCC for creditable refund for creditable input taxes
input taxes within 120 days from within 90 days from date of
submission of complete documents submission of the OR or invoices and
other supporting documents
Filing and payment Quarterly – within 25 days following Beginning January 1, 2023,filing and
the close of each taxable quarter. payment shall be done within 25
days following the close of each
Monthly – within 20 days from the taxable quarter
end of each moth
Withholding of VAT of Subject to final withholding VAT of 5% Beginning January 1, 2021, the VAT
transactions with the withholding system of transaction
government with the government shall shift from
final to a creditable system
OTHER PERCENTAGE TAXES
Stock transaction tax ½ of 1% of the gross selling price 6/10 of 1% of the selling price
Returns and payment As an exception, CIR may prescribe a Repealed
different time for filing and the
manner and time for payment

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