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Manila Bulletin devider Philippines devider Visayas devider Southern Leyte solon files bill abolishing estate tax

Southern Leyte solon files bill abolishing estate tax

Published Dec 10, 2025 12:27 pm
YAP
YAP
TACLOBAN CITY — Southern Leyte Rep. Christopherson Yap has filed House Bill 6702 that proposes to abolish the estate tax under the National Internal Revenue Code.
The “Estate Tax Abolition Act” aims to help families make better use of the properties left by their loved ones by removing the burden of paying estate taxes.
Yap explained that estate tax remains confusing, costly, and burdensome for many Filipinos.
“Families often cannot afford to pay it, especially when the only assets left behind are a modest home, a small farm, or a family business. As a result, titles remain unsettled for years. Properties stay idle. Heirs lose opportunities to use inherited assets to build better lives,” he added.
Yap said that estate tax contributes very little to national revenue, while the government spends significant time and resources enforcing it.
The current estate tax system is based on the provisions of the TRAIN Law, which imposes a flat rate of six percent on the net value of the estate.
The tax is applied to the net value of all properties, including real, personal, tangible, and intangible assets, wherever they are located, after allowable deductions.
The estate tax return must be filed and paid within one year of the decedent's death.
Late filings are subject to penalties, including a 25 percent surcharge and 12 percent annual interest.

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Southern Leyte Estate tax Rep. Christopherson Yap
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