TRUE OR FALSE ONLY, NO EXPLANATION NEEDED

• In general, the requirements for the payment of transfer tax are Certificate Authorizing Registration from the Bureau of Internal Revenue, Realty tax clearance from the Treasurer's Office; and Official receipt of the Bureau of Internal Revenue.
• Protest of Assessment is filed when the local treasurer or his duly authorized representative finds that the correct taxes, fees, or charges have not been paid, he shall issue a notice of assessment stating the nature of the tax, fee, or charge, the amount of deficiency, the surcharges, interests and penalties. Within ninety days (90) days from the receipt of the notice of assessment, the taxpayer may file a written protest with the local treasurer contesting the assessment; otherwise, the assessment shall become final and executor.
• The local treasurer shall decide the protest within sixty (60) days from the time of its filing. If the local treasurer finds the protest to be wholly or partly meritorious, he shall issue a notice cancelling wholly or partially the assessment.
• If the local treasurer finds the assessment to be wholly or partly correct, he shall deny the protest wholly or partly with notice to the taxpayer. The taxpayer shall have thirty (30) days from the receipt of the denial of the protest or from the lapse of the sixty-day (60) period prescribed herein within which to appeal with the court of competent jurisdiction, otherwise the assessment becomes conclusive and unappeasable."
• Decedentis one of the elements of succession. Is a general term applied to the person whose property is transmitted through succession, whether or not he left a will? If he left a will, he is called a testator (Art. 775 NCC).
• Inheritanceincludes all the property, rights and obligations of a person which are not extinguished by death and all which have accrued thereto since the opening of succession. Rights which are purely personal are not transmissible for they are extinguished by death (Art. 776 NCC).
• Successors. Anheir or successoris a person who is called to the succession either the provision of a will or by operation of law (Art. 782 NCC). Devisees and legatees are persons to whom gifts of real and personal property are respectively given by virtue of a will.
• Estate Tax is a tax on the right of the deceased person to transmit his/her estate to his/her lawful heirs and beneficiaries at the time of death and on certain transfers, which are made by law as equivalent to testamentary disposition.
• It is a tax imposed on the privilege of transmitting property upon the death of the owner. The Estate Tax is based on the laws in force at the time of death notwithstanding the postponement of the actual possession or enjoyment of the estate by the beneficiary.
• The Estate Tax Return (BIR Form 1801) shall be filed within two (2) year from the decedent's death. In meritorious cases, the Commissioner shall have the authority to grant a reasonable extension not exceeding thirty (30) days for filing the return.
• In case the available cash of the estate is insufficient to pay the total estate tax due, payment by instalment shall be allowed within two (2) years from the statutory date for its payment without civil penalty and interest upon approved by the concerned BIR Official.
• The due date on filing and payment of the return/tax shall depend on the applicable law at the time of the decedent's death.
• Where the taxes are assessed by reason of negligence, intentional disregard of rules and regulations, or fraud on the part of the taxpayer, no extension will be granted by the Commissioner.
• The application for extension of time to file the estate tax return must be filed with the Revenue District Officer (RDO) where the estate is required to secure its Taxpayer Identification Number (TIN) and file the tax returns of the estate.
• The application of extension in filling of donor's tax shall be approved by the Commissioner or his duly authorized representative within 30 days upon receipt of assessment