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Gatchalian files bill simplifying, extending estate tax amnesty program  

Published May 17, 2023 05:39 am
Senator Sherwin Gatchalian has filed a bill seeking to simplify and extend the government’s estate tax amnesty program for two more years  in response to the clamor of taxpayers to avail of a tax reprieve. Gatchalian, chairman of the Senate Committee on Ways and Means, filed Senate Bill No. 2197 which seeks to amend Republic Act No. 11213 or the Tax Amnesty Act. The House of Representatives’ version of the proposed measure has been officially transmitted to the Senate on Tuesday, May 16. In filing the Senate’s version of the measure, Gatchalian seeks to simplify the process and requirements for availing of the tax amnesty program to encourage more taxpayers to take advantage of such reprieve. If enacted into law, the program would be extended for two years or up to June 14, 2025, the period of availing of the estate tax amnesty. The current estate tax amnesty program is set to expire on June 14 this year. “Revenue collection from the amnesty program will surely increase significantly if the amendments in the proposed measure are approved,” he said. “It will surely benefit our taxpayers and at the same time provide additional revenues for the government,” the senator emphasized. As of March 2023, he said the Bureau of Internal Revenue (BIR) has already collected a total of P7.41-billion against a target of P6.28-billion from 133,680 taxpayers who availed of the program. But he said he has received reports that the BIR continues to impose stringent requirements, particularly the submission of extrajudicial proof of settlement, which is burdensome to taxpayers. “The difficulties associated with having to wrangle with various government agencies to secure the necessary documentation and the prohibitive cost of having to prove eligibility at every stage of the succession process also serve as deterrents in the settlement of the estate tax,” the lawmaker noted. Albay District Rep. Joey Salceda earlier called on the Senate to pass the bill quickly or before the sine die adjournment by June 3.

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estate taxes Sherwin Gatchalian senate ways and means committee estate tax amnesty
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