AGRI Party-list Rep. Wilbert T. Lee (Rep. Lee's office)




AGRI Party-list Rep. Wilbert T. Lee has echoed calls from the House leadership to extend the availment period of estate tax amnesty for another two years. For this purpose, Lee penned and filed House Bill (HB) No.7842, or the proposed Act extending the period of availment of the estate tax amnesty, amending for the purpose Republic Act (RA) No.11213, as amended, otherwise known as the "Tax Amnesty Act". “Undeniably, the pandemic significantly reduced the country’s economic activities. Numerous lockdowns and community quarantines led to the closure of businesses and unemployment. These severely affected the capacity of the people to settle their estate taxes due to lack of money and resources,” Lee said in justifying the bill, which is pending first reading in plenary. “With the impact of the pandemic and the high inflation rate that we still face, it is incumbent upon the government to address and lessen the taxpayer’s current burden,” added the rookie lawmaker. Incidentally, high-ranking House of Representatives members filed a similar measure in HB No.7409, which is also seeking a two-year extension of the estate tax amnesty period. Leading the filing of HB No.7409 was House Speaker and Leyte 1st district Rep. Martin Romualdez. Majority Leader and Zamboanga City 2nd district Rep. Mannix Dalipe, Senior Deputy Majority Leader and Ilocos Norte 1st District Rep. Sandro Marcos, Committee on Accounts Chairperson and Tingog Party-list Rep. Yedda Marie Romualdez, and Deputy Majority Leader and Tingog Party-list Rep. Jude Acidre were also among the bill’s authors. Under HB No.7842, Lee aims to give taxpayers enough time to settle their tax dues as the amnesty period is about to lapse on June 14, 2023 under Ra No.11569, which amended Republic Act (RA) No. 11213. RA No.11213 was enacted in 2019 to “provide a one-time opportunity to settle estate tax obligations through an estate tax amnesty program that will give reasonable tax relief to estates with deficiency estate taxes". The Tax Amnesty Act sought to enhance revenue administration and collection by granting an amnesty on all unpaid internal revenue taxes imposed by the national government for taxable year 2017 and prior years with respect to estate tax, other internal revenue taxes, and tax on delinquencies. Lee's measure provides that taxpayers who are in the process of recovering from the effects of their losses and the impact of the high inflation rate are given an additional opportunity and protection to pay their estate taxes including increments and additions under the National Internal Revenue Code. Taxpayers shall also be immune from any related civil, criminal, and administrative penalty. Under the bill's proposed amendment, the new deadline of filing for those who wish to avail of the estate tax amnesty will be on June 14, 2025. If enacted into law, the Secretary of Finance shall, in coordination with the Commissioner of Internal Revenue, issue the necessary rules and regulations for the effective implementation of this Act.