Senator Christopher “Bong” Go has filed a measure seeking to extend the estate tax amnesty period until 2028, allowing more Filipino families additional time to settle unpaid estate taxes and legally transfer inherited properties.
Go filed Senate Bill No. 2329, which proposes amendments to Republic Act No. 11213, or the Tax Amnesty Act, to extend the availment period for estate tax amnesty until December 31, 2028.
“Maraming pamilya ang nahihirapang ayusin ang mga naiwang ari-arian dahil sa gastusin at komplikadong proseso. Layunin ng panukalang ito na bigyan sila ng mas sapat na panahon at mas magaan na paraan upang maayos ang kanilang obligasyon,” Go said.
Under the proposed measure, the estate tax amnesty would cover estates of individuals who died on or before December 31, 2024, provided that estate taxes remain unpaid or had accrued as of the same date.
The current law only covers estates of individuals who died on or before May 31, 2022.
Go said the proposed expansion aims to include more families whose heirs, transferees, or beneficiaries have yet to settle estate tax obligations due to financial and administrative challenges.
He noted that many households continued to experience difficulties in processing inherited properties after the COVID-19 pandemic, which led to unexpected deaths and additional expenses.
“Hindi lamang pagluluksa ang dinanas ng maraming pamilya. Kailangan din nilang harapin ang mga gastusin at dokumentong kaugnay ng mga naiwang ari-arian. Bawat piso ay mahalaga, lalo na para sa mga ordinaryong Pilipinong patuloy na nahaharap sa krisis. Dapat natin silang bigyan ng makatwirang pagkakataon na maayos ang mga ito,” Go said.
The bill allows the executor or administrator of an estate, or legal heirs, transferees, or beneficiaries if no administrator has been appointed, to file an Estate Tax Amnesty Return either electronically or manually.
Payments may be made through authorized agent banks, Revenue District Offices through revenue collection officers, or authorized tax software providers.
The measure also proposes allowing installment payments within two years from the statutory payment date without civil penalties and interest. Taxpayers who choose this option must initially pay at least 25 percent of the total amount due.
Once all requirements are completed and full payment is made, covered estates would be granted immunity from unpaid estate taxes, penalties, and related civil, criminal, and administrative cases for the covered period.
Go said the proposed extension would help families obtain clearer ownership of inherited properties and allow them to legally use, transfer, or pass on their assets.
“Kapag maayos ang mga dokumento at nabayaran ang tamang buwis, mas madali para sa mga pamilya na magamit, maipamana, o mailipat nang legal ang kanilang mga ari-arian,” he said.
The bill directs the Department of Finance, in coordination with the Bureau of Internal Revenue, to issue implementing rules and regulations within 30 days from the measure’s effectivity.
Go said the proposal aims to provide relief to families who intend to comply with their tax obligations while giving them additional time and more manageable payment options.
Photo courtesy of Business Mirror
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