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Manila Bulletin devider Philippines devider National devider Gatchalian: More heirs can avail of gov't estate tax amnesty program

Gatchalian: More heirs can avail of gov't estate tax amnesty program

Published Jun 2, 2023 04:55 am


More heirs now have another chance to avail of the government’s estate tax amnesty program, Sen. Sherwin Gatchalian said.

Gatchalian made the promise following the Senate’s approval on third and final reading of the proposed measure that seeks to extend the period of availment and simplify the process of the tax relief program by two years.   It was Gatchalian, chairperson of the Senate Committee on Ways and Means, who filed Senate Bill No. 2219 or An Act Amending Republic Act 11213, Otherwise Known As The “Tax Amnesty Act” As Amended By Republic Act 11569.

The senator said that with the passage into law of the measure, more Filipinos, especially those who lost loved ones during the height of the pandemic, will benefit from the extension of this amnesty.

“Gusto nating bigyan ng huling pagkakataon ang ating mga kababayan na mapakinabangan ang amnestiya ukol sa pagbabayad ng estate tax (We want to give our countrymen one last chance to take advantage of the amnesty for the payment of estate tax),” Gatchalian said. 

As of April this year, the senator noted that about 130,000 taxpayers have so far availed of the tax amnesty.   The measure seeks to extend the period of availment until June 14, 2025.

The measure will seeks to expand the coverage of the estate tax amnesty program by including estates of decedents who passed away on or before May 31, 2022, originally from December 31, 2017, to include those who lost a loved one at the height of the Covid-19 pandemic.   The bill also includes an installment payment feature to encourage more taxpayers to avail of the amnesty program. 

Such a feature will be provided to taxpayers without civil penalties and interest, ensuring that taxpayers with limited available cash in the estate can fulfill their obligations in a more manageable and financially sustainable manner.   “This program provides an opportunity for taxpayers to formalize their ownership of land, thus securing property rights, and would empower them to maximize the value of their assets through various economic activities,” he stressed.



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Senator Sherwin T. Gatchalian estate tax estate tax amnesty
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