Finance Secretary Frederick D. Go pushes for the extension of the estate tax amnesty to the end of 2028, which could generate additional revenue while easing the burden for Filipinos settling their debts on inherited properties.

This measure is among the priority tax measures the Department of Finance (DOF) presented in September. It can be recalled that the estate tax amnesty already expired last June.

Go said in a Dec. 9 statement that the Department of Finance’s (DOF) support for House Bill 6614 comes from the goal of maximizing the utility of idle assets and boosting productivity.

Imposed under the National Internal Revenue Code (NIRC), the estate tax is a one-time payment for the legal transfer of ownership of a deceased person’s assets to their lawful heirs and beneficiaries.

The proposed extension of the estate tax amnesty applies to estates of decedents who passed away on or before May 31, 2022. Safeguards are also in place “to prevent potential misuse of the measure,” the DOF said.

Finance Undersecretary Nina Asuncion earlier noted that the rate will remain at six percent.

Estates that avail of the amnesty are exempt from all estate taxes, penalties, and charges, and are shielded from cases and sanctions under the NIRC of 1997 for deaths on or before the effective date of the proposed measure.

“To promote fairness and minimize discretion in the grant of estate tax amnesty, applicants must comply with the documentary requirements and payment of the amnesty tax by Dec. 31, 2028,” the DOF said.

To note, the proposal also seeks to allow taxpayers to pay the amnesty tax in installments—currently a one-time payment—over one year once the Acceptance Payment Form is issued.

Such a setup would grant “relief to families unable to formalize inheritance because of financial and other constraints.”

Meanwhile, “noncompliance with the requirements will subject the estate to the penalties and surcharges imposed under the NIRC,” the DOF stressed.

Total estate tax collection stood at ₱6.6 billion in 2024, of which collections from the estate tax amnesty accounted for 40.5 percent.

In particular, ₱2.7 billion was collected from more than 52,000 taxpayers who availed of the amnesty, while the BIR raised ₱3.9 billion in regular estate tax collection from over 103,000 filers.

Notably, 2024 recorded the highest share of amnesty availers in six years since 2019, accounting for 35.6 percent of the total 159,996 estate tax filings during the year.

Apart from the extension of the estate tax amnesty, the DOF is also pushing to legislate the excise tax on single-use plastics (SUPs), the general tax amnesty, and the qualified domestic minimum top-up tax (QDMTT) in the 20th Congress.