Senate approves bill extending estate tax amnesty to 2025
MANILA, Philippines — Senators on Monday approved on third and final reading a bill that would extend the period of availing the government’s estate tax amnesty program until mid-2025.
Voting 24-0, senators approved Senate Bill 2219 which, if enacted into law, would amend Republic Act 11213 or the “Tax Amnesty Act”.
The measure would allow those whose estate taxes have remained unpaid or have accrued as of May 31, 2022, to avail of the amnesty program until June 14, 2025 — an extension from the original deadline of June 14 this year.
This relief would only cover the estate of those who died on or before May 31, 2022.
The executor or administrator of the estate who would avail of the amnesty program can make the necessary filings either electronically or manually.
Legal heirs, transferees and beneficiaries may also do this if there is no executor or administrator appointed so they could use the properties and assets they inherited from their deceased relatives. — with reports from Xave Gregorio
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