Senator Jinggoy Ejercito Estrada has filed a bill seeking to extend the estate tax amnesty for another three years. The program ended last June 14, 2025, but Estrada, in filing Senate Bill No. 1488, sought to extend it until June 14, 2028 to give Filipino families more time to settle...
Manila Mayor Francisco "Isko Moreno" Domagoso urged business and property owners in the city to avail themselves of its General Tax Amnesty and huge Real Property Tax (RPT) discounts for early payers as part of the city 's expanded efforts to help taxpayers keep up with their dues while...
With more than ₱50 billion in revenues being forgone due to the non-imposition of top-up taxes on large multinational enterprises (MNEs) in the Philippines, the Department of Finance (DOF) is eyeing to slap “very large” corporations with such a levy to contain the flight of potential tax...
While final details of the general tax amnesty eyed for enactment this year are still being ironed out, the Department of Finance (DOF) disclosed that the measure will likely cover taxable years 2007 to 2024, resuming from the last time a similar law was implemented, which raked in billions of...
Even as revenue-raising general tax amnesty and online gambling tax measures are being studied by the Marcos administration for enactment this year, Fitch Solutions’ unit BMI has maintained its forecast that the government will exceed its widened fiscal deficit of 5.5 percent of economic...
The Bureau of Internal Revenue (BIR) said heirs of deceased individuals can benefit from the estate tax amnesty program without incurring fines or penalties. They will also be shielded from criminal, civil, and administrative legal actions for late estate tax filings and payments, as...
The Bureau of Internal Revenue (BIR) has issued updated regulations for the new estate tax amnesty program to benefit more than one million heirs of the deceased. Finance Secretary Benjamin E. Diokno issued Revenue Regulations No. 10-2023 to implement these changes prescribed by Republic Act (RA)...
The government stands to earn additional revenues of about P6.15-billion from the Estate Tax Amnesty bill that has already lapsed into law without the signature of President Ferdinand “Bongbong” Marcos Jr. Sen. Sherwin Gatchalian, chairman of the Senate Committee on Ways and Means,...
House Speaker Martin Romualdez (Speaker’s office) Republic Act (RA) No.11956 or the Estate Tax Amnesty Extension Law will give Filipinos a much needed opportunity to settle their estate tax obligations. Thus, said House Speaker Martin Romualdez Wednesday, Aug. 9...
A measure extending the deadline of the estate tax amnesty until June 2025 has lapsed into law, without the signature of President Ferdinand "Bongbong" Marcos Jr. The bill lapsed into law on Aug. 5, 2023. Republic Act No. 11956, also known as the "Tax Amnesty Act" extends the period of availment of...
Albay 2nd district Rep. Joey Salceda (Rep. Salceda's office) The enactment of the Estate Tax Amnesty Extension Law will also be a boon to the beneficiaries of the New Agrarian Emancipation Act. Thus, said Committee on Ways and Means Chairman Albay 2nd district Rep....
(Keith Bacongco/ MANILA BULLETIN) Albay 2nd district Rep. Joey Salceda highlighted on Friday, July 7 the estate tax amnesty exemption provision in the newly-signed Republic Act (RA) No.11953 or the New Agrarian Emancipation Act. Salceda, chairman of the House Committee on Ways and Means, went as...
