Enforcement Rules of the Estate and Gift Tax Act Article 7

For the part of taxable estate or gift eligible for exclusion from tax base calculation according to Subparagraphs 1 to 3, Article 16 of the Act, the taxpayer shall, upon filing the estate tax declaration, submit a document of proof declaring the beneficiary’s consent to accept the estate or gift to the competent tax authority for issuance of an Estate Tax Exclusion Certificate.For such transfers by estate or gift in the preceding paragraph, if the properties involved are immovables, the taxpayer’s failure to complete the property rights transfer registration within one (1) year of the date of issuance of the Estate Tax Exclusion Certificate; or if movables, the taxpayer’s failure to deliver to the beneficiary the estate or gift within three (3) months, estate tax shall be made due retroactively, unless under special circumstances where an extension request has been filed with the competent tax authority with an approval granted.The estate tax referred to in the preceding paragraph shall be charged the daily interest accrued on the amount of such supplementary tax at the interest rate based on the fixed interest rate on January 1 of each year for a one-year time deposit of postal savings, for the period from the date following the original deadline for making the payment of such tax to the date said notice was issued demanding supplementary payment of tax; for cases originally approved of duty exemption, interest shall be accrued from the next date of exclusion from gross estate certificate issued by the competent tax authority.