By Jennifer Ambanta | Posted on Jun. 24, 2013 at 12:00am |
[ manilastandardtoday.com ]
The Bureau of Internal Revenue will tap estate tax to
generate more revenues for the government, commissioner Kim Henares said over
the weekend.
Henares said the government plans to look into the estate of
those who died five years ago.
“We want to see the deposit, so that we can also determine
whether they are compliant, that they do not do withdrawal transactions using
the name of the deceased,” Henares said.
Henares said the BIR will write to the concerned parties and
require them to submit bank records. “If they do not comply, we will subpoena,”
Henares said.
She said the government will assess all the accounts handed
over to the government.
She said banks might incur criminal liability once proven
that withdrawal transactions were made under the name of the deceased account
holders.
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