House passes bill to extend estate tax amnesty for 2 years

MANILA, Philippines — The House of Representatives on Tuesday passed a bill extending the estate tax amnesty period by another two years as a form of economic relief during the coronavirus pandemic.

The 302-member chamber approved House Bill No. 7068, on third reading in a 209-0 vote.

The measure seeks to amend Republic Act No. 11213, or the Tax Amnesty Act of 2019, to extend the tax amnesty to account for difficulties faced by Filipinos, including unemployment, bankruptcy and stalled economic activity.

The law earlier set the deadline that taxpayers may settle their estate tax dues within two years of the effectivity of the implementing rules on May 29, 2019. The bill amends that to within four years.

—DJ Yap