transfer and business taxationWhat is estate tax? 2. What are the justifications for the imposition of estate tax? 3. What are the composition of gross estate based on citizenship and residency? 4. What is the reciprocity clause? 5. What is an intangible asset? 6. What are intangible assets with status within the Philippines as provided in the Tax Code? 7. What are the rules on determining the valuation of the estate as provided in RA10963 and RR-12-2018? 8. What are the exclusions from the gross estate under Sections 85 and 86 of the Tax Code? 9. What are the exclusions from the gross estate under Section 87 of the Tax Code? 10. What are the other exclusions from the gross estate under Special Laws? 11. What are the inclusions in the gross estate? 12. What is the estate tax rate as provided by RA10963? 13. What is the time of filing of the estate tax return? 14. What is the time of payment of the estate tax return? 15. What are the allowable deductions from the gross estate upon the effectivity of RA10963 (Train Law)? Define / Explain each. a. Citizen and Resident Decedents b. Non-Resident Alien Decedents