Senator Christopher “Bong” Go has joined other lawmakers in pushing for a bill seeking to extend the estate tax amnesty period and provide more Filipino families with additional time to settle outstanding estate tax liabilities and complete the lawful transfer of inherited properties. In filing...
Ranking congressmen believe that President Marcos ' proposed tax reform package presents an opportunity to remove long-standing barriers that prevent inherited properties from being put to productive use. House Committee on Ways and Means Chairman Marikina City 2nd district Rep Miro Quimbo...
To talk about succession planning is to embark on a long journey; the limited space of this column is simply not enough to cover it fully. Thus, I will focus on the most significant highlights applicable to many family corporations. The tendency among most family businesses run by Filipinos is to...
The Senate is still waiting for the Department of Finance’s (DOF) insight on the bill seeking to extend the period of availment of estate tax amnesty. This, according to the Senate Committee on Ways and Means, the primary committee chaired by Sen. Pia Cayetano that is tasked to oversee...
While delinquent estate taxpayers may avail themselves of installment payments under the amnesty program, the taxman warned that missing due dates will result in the forfeiture of amnesty benefits. “Installment payment may be allowed within two years from the statutory date of its payment without...
Senate Minority Leader Alan Peter Cayetano and sister, Senator Pia Cayetano has called on the government to intensify the promotion of the Estate Tax Amnesty program so that more Filipinos can benefit once the measure seeking to extend its period of availment is enacted into law. The siblings call...
Senate President Pro Tempore Panfilo “Ping” Lacson has filed a bill seeking to grant an amnesty on unpaid estate taxes covering the estates of individuals who died on or before Dec. 31, 2025 that have outstanding or accrued tax liabilities as of that date. In filing Senate Bill No. 1889,...
Senate Majority Leader Juan Miguel “Migz” Zubiri has joined other lawmakers in pushing for a bill seeking to extend the deadline for the Estate Tax Amnesty to December 31, 2028. Zubiri said passage of Senate Bill No. 1865 into law would give heirs more time to settle long-standing obligations...
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...
