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...
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...
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...
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...
Senate President Juan Miguel “Migz” Zubiri signed the controversial Maharlika Investment fund (MIF) bill in Washington, DC, on Wednesday, June 21. He also signed the Estate Tax Amnesty Extension Act, and the act recognizing Baler, Aurora, as the birthplace of Philippine Surfing. Zubiri...
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...
