The camp of presidential candidate and former senator Ferdinand "Bongbong" Marcos Jr. has urged Aksyon Demokratiko chairman Ernest Romel to "widen his research" first before daring Marcos Jr. to answer the P200 billion estate tax debt. Lawyer Vic Rodriguez, Marcos Jr.'s spokesman, said in a...
Finance Secretary Carlos G. Dominguez III has suggested that the government should consider increasing taxes on real-estate properties instead of imposing the wealth tax. “I’m against wealth tax,” Dominguez said at a virtual forum by Financial Executives Institute of the Philippines (FINEX)...
Quezon City mayoralty aspirant and Anakalusugan Rep. Mike Defensor vowed on Friday, Oct. 15 to stop the increase in land taxes imposed by the city government on residential, commercial and industrial lots if elected mayor in the May 2022 elections. Rep. Michael Defensor2 Defensor, who chose...
A measure extending the estate tax amnesty until June 2023 has been signed into law by President Duterte. President Rodrigo Duterte (file photo/Malacañang) The President inked Republic Act No. 11569 allowing a two-year extension of the estate tax amnesty, amending RA 11213 or the Tax Amnesty Act....
The Court of Tax Appeals (CTA) has denied the belated petition filed by a Cagayan de Oro City resident to stop the Bureau of Internal Revenue (BIR) from auctioning the properties of his deceased uncle to settle estate tax debts of over P1 billion. (Photo from BIR Facebook page) The court's second...
The extension of the amnesty for unpaid real estate taxes for another two years will benefit both the government and the families that are recovering from the economic impacts of the COVID-19 pandemic, Senator Juan Edgardo "Sonny" Angara said on Saturday, May 29. Senator Juan Edgardo 'Sonny' Angara...
The Senate has approved on third and final reading the measure seeking to extend the estate tax amnesty for another two years. With 23 affirmative votes, the Senate approved Senate Bill No. 2208 which seeks to amend Republic Act No. 11213 or the Tax Amnesty Act, which is set to expire on June 15,...
Many relatives of coronavirus (COVID-19) victims who died from the disease are asking Congress to pass a legislation that would exempt them from paying estate tax, or at the very least lower the rate. (Photo by Jarl Schmidt / Unsplash) They said it will be another financial hardship if they will...
