My asset list are:
(Painting, and other works of art, collections)
Total AssetsPhp 14,500,000.00
My allowable deductions are:Please note that the allowable deductions will vary depending on the law applicable at the time of the decedent's death.
Standard DeductionDeduction in the amount of Five Million Pesos(P5,000,000.00) shall be allowed as an additional deduction without need of substantiation.Php 5,000,000.00
Total DeductionsPhp 9,500,000.00
My total estate subject to tax isPhp 5,000,000.00