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Manila Bulletin devider Philippines devider National devider House adopts Senate version of estate tax amnesty extension bill

House adopts Senate version of estate tax amnesty extension bill

Published May 30, 2023 10:48 am
House of Representatives (Ellson Quismorio/ MANILA BULLETIN)


The measure extending the availment period of estate tax amnesty until June 14, 2025 no longer needs to undergo a Bicameral Conference Committee hearing, thereby hastening its potential enactment by Malacañang. This, after the House of Representatives adopted the Senate's version of the measure during plenary session Tuesday afternoon, May 30. The House version, embodied in House Bill (HB) No.7909, was approved on third and final reading on May 15. The senators did the same to Senate Bill (SB) No.2219 last Monday. "We have been informed that the Committee on Ways and Means, sponsor of [HB] No.7909,  as well as the authors thereof, are in concurrence with the provisions of [SB] No.2219," Assistant Majority Leader and Nueva Ecija 1st district Rep. Mikaela Suansing said on the floor Tuesday. "With this information and in accordance with our rules, I move that we adopt SB No.2219 as an amendment to HB No. 7909," Suansing said. Deputy Speaker and Cebu 5th district Rep. Vincent Franco "Duke" Frasco carried the motion following a voice vote (ayes vs. nayes) wherein the positive votes won. The House's adoption of the Senate measure forgoes the need for a Bicameral Conference Committee hearing between the congressmen and senators, since they have now essentially endorsed the same bill. The current deadline for amnesty availment under Republic Act (RA) No.11213 or the "Tax Amnesty Act", as amended, is June 15, 2023--roughly two weeks away. Albay 2nd district Rep. Joey Salceda chairs the House Ways and Means Committee. “It heads straight to PBBM’s (President Ferdinand "Bongbong" Marcos Jr.) desk [for his signature]. It’s another major win. And it is an enhanced version, since it limits discretion of BIR (Bureau of Internal Revenue) on what documents to require, and it allows payment by installments,” Salceda said. “Basically, estate tax amnesty will possibly go on uninterrupted, if PBBM signs this before June 14,” he noted. He earlier said that some 920,000 Filipino families with unsettled estates could benefit from the extension of the Estate Tax Amnesty Act.

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