JOE RAYMOND GRAN

In 2013, the Financial Executives Institute of the Philippines (FINEX) noted that there were 531,280 reported deaths in the country, and yet only 40,325 estate returns were filed. It’s no surprise, then, that from that year until 2017, estate tax and donor’s tax, which are meant to provide revenue to the government, reduce income inequality, and distribute wealth, contributed only roughly 1 percent to the total annual tax revenue.

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