Duterte OKs extension of estate tax amnesty | Inquirer News
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Duterte OKs extension of estate tax amnesty

By: - Reporter / @DYGalvezINQ
/ 06:18 PM June 30, 2021
Duterte OKs extension of estate tax amnesty

(File) President Rodrigo Roa Duterte. SIMEON CELI JR. / PRESIDENTIAL PHOTO

MANILA, Philippines — President Rodrigo Duterte on Wednesday signed into law a measure extending by two years the deadline for applications to avail of the government’s amnesty program on delinquent estate taxes.

Duterte signed Republic Act No. 11569, extending the June 14 deadline for applications until June 14, 2023.

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The measure amends Republic Act No. 11213, or the Tax Amnesty Act of 2019, which aimed to enhance revenue administration and collection by granting amnesty on all unpaid internal revenue taxes imposed by the national government for the taxable year 2017 and prior years.

RA 11213 slashed the net estate tax from 20 to 6 percent, the amount of which is determined at the time of death of the real property’s owner.

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The tax amnesty covered those estate decedents who died on or before December 31, 2017, whose estate taxes remained unpaid.

The Senate approved the measure on May 24, and their version was adopted by the House of Representatives.

JPV

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TAGS: bill, duterte, estate, law, signs, tax amnesty
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