At Saint Louis University Boys’ High, we had Mr. Felipe Pati who became a lawyer and retired as labor arbiter with the rank of a Regional Trial Court judge in so far as his pension is concerned.
He was our much-admired, funny and bright Spanish professor and out of classes was good company over gin bulag.
His major piss-off were those who do not study well and his favorite expression especially for those he considers lacking in substance between the ears, is the silly sounding word – nincompoop.
Saying someone a nincompoop is like calling them a fool, idiot, bonehead, dumb, can’t do anything right or a dope. Definitely it was not a compliment to be classified as one.
With only 29 days to go before the May 9 elections and with Ferdinand Marcos, Jr. way ahead, all his rivals and their lackeys are ganging up on him on a tax issue to the extent of slanting the real picture behind.
Maybe this old-time insult deserves a revival especially on those who choose to mislead, rather than present the truth.
I have explained in my previous column about estate tax and will not repeat them here especially because some of those who were impressed by the propaganda realized their mistake regarding their understanding on the matter.
In G.R. 120880, the Supreme Court noted that the Bureau of Internal Revenue has issued 30 notices of levy – a public sale of levied properties and without a bidder, the properties subject of the public sale were declared forfeited in favor of the government in satisfaction of the estate tax due. The state now owns them.
The SC further clarified that in the case of notices of levy issued to satisfy the delinquent estate tax, “the delinquent taxpayer is the estate of the decedent, and not necessarily, and exclusively the heirs of the deceased.”
It now appears that the 30 properties levied, bidder out and now government owned are more than enough to cover the estate tax liabilities especially because Republic Act 11569 amending RA 11213 (Estate Amnesty Act) charges only six percent of its worth at the time of death.
By seizing the properties, the government, in effect, collected 100 percent of the properties’ worth and not merely six percent. May sukli pa ang mga Marcoses.
Ang tanong: Will you pay for estate taxes already in the hands of government thus no longer owned by your late father?
If you say yes, you deserve to be called a nincompoop with no limits.
April 26, 2024
