Section 25Sec./Art. 25

Section 90 of the NIRC, as amended, is hereby further amended to read as follows:

"Sec. 90. Estate Tax Returns. -

"(A) Requirements. - In all cases of transfers subject to the tax imposed herein, or regardless of the gross value of the estate, where the said estate consists of registered or registrable property such as real property, motor vehicle, shares of stock or other similar property for which a clearance from the Bureau of Internal Revenue is required as a condition precedent for the transfer of ownership thereof in the name of the transferee, the executor, or the administrator, or any of the legal heirs, as the case may be, shall file a return under oath in duplicate, setting forth:

"(1) x x x

"(2) x x x

"(3) Such part of such information as may at the time be ascertainable and such supplemental data as may be necessary to establish the correct taxes.

"Provided, however, That estate tax returns showing a gross value exceeding Five million pesos (₱5,000,000) shall be supported with a statement duly certified to by a Certified Public Accountant containing the following:

"x x x

"(B) Time for Filing - For the purpose of determining the estate tax provided for in Section 84 of this Code, the estate tax return required under the preceding Subsection (A) shall be filed within one (1) year from the decedents death.

"x x x."