Estate Tax Amnesty extended until june 2023

Senate Bill 2208 approved the deadline of the Availment of the Estate Tax Amnesty, its Implementing Rules and Regulations from JUNE 15, 2021 UNTIL JUNE 14, 2023.

This is a good news to the executor or administrator of the estate, or if there is no executor or administrator appointed, the legal heirs, transferees or beneficiaries, who wish to avail of the Estate Tax Amnesty.

All 23 senators present during the third reading approval voted in favor of Senate Bill No. 2208. It seeks to amend the Tax Amnesty Act, which set a June 14, 2021 deadline for the filing of estate tax returns.

The law covers the estate of decedents who died on or before December 31, 2017 and whose estate taxes remained unpaid or have accrued as of that date.

Senator Pia Cayetano, chair of the committee on ways and means and one of the sponsors of the measure, together with Senators Revilla, Villanueva, Zubiri , Gordon and Gatchalian.

The lawmaker earlier said that COVID-19 restrictions prevented prospective applicants from availing of the tax amnesty. (Sources: CNN Philippines, Philippine Senate)

Do you have a property needing assistance to settle Estate Taxes? Drop your inquiries here.