Connect with us

Hi, what are you looking for?


House adopts Senate version of bill extending estate tax amnesty by 2 years

THE HOUSE of Representatives has adopted the Senate version of the bill extending the estate tax amnesty in order to ensure it will be signed into law before it expires by mid-June.

The House plenary adopted Senate Bill (SB) No. 2219, which extends the period of availment of the estate tax amnesty for another two years.

The current amnesty period will expire on June 14. Under the bill, the new estate tax amnesty period will run from June 15, 2023 to June 14, 2025.

“We will adopt the Senate version. Those are minor provisions especially dates, we’re talking about the extension of the estate tax amnesty plus they placed there the provisions on the manner of payments and documents so we will adopt the Senate version,” Majority Floor Leader and Zamboanga City Rep. Manuel Jose M. Dalipe said at a briefing before the plenary adopted the Senate version.

House Ways and Means Committee chairman and Albay Rep. Jose Ma. Clemente S. Salceda earlier sent an aide memoire addressed to House Speaker Ferdinand Martin G. Romualdez and Mr. Dalipe recommending that the House adopt SB 2219.

Both the House and Senate versions sought to expand the coverage of the amnesty, which currently only covers the estates of those who died on or before Dec. 31, 2017.

Mr. Salceda said he has no objection in adopting the Senate version which includes unsettled estates of those who died on or before May 31, 2022.

The version approved by the House covers estates of those who died on or before Dec. 31, 2022.

The Senate bill also prevents the Bureau of Internal Revenue (BIR) from arbitrarily imposing other requirements which may delay the processing of applications.

It also clarified that the proof of settlement is only required for the issuance of Electronic Certificate Authorizing Registration for transfer of properties, not for payment of estate tax.

Under the Senate version, the payment of the estate tax may also be done in installments within two years from the statutory date for the payment without civil penalty or interest.

The measure also allows taxpayers to pay the amnesty tax either manually or electronically through any authorized agent bank, a revenue district office, or an authorized tax software provider.

“Considering that the changes between the Senate and House versions do not materially impair the intentions of each House, foremost of which is to extend the effectivity of the Estate Tax Amnesty for another two years or up to June 14, 2025, this representation recommends that the House adopt the Senate version, to ensure that the bill can be signed into law before the current estate tax amnesty expires,” Mr. Salceda said.

Once the House adopts the Senate version, there will be no need to convene the Bicameral Conference Committee. The measure will be sent directly to Malacañang for President Ferdinand R. Marcos, Jr.’s signature. — Beatriz Marie D. Cruz

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



The province of Pangasinan wants to expand the range of products offered by its small and medium-sized businesses for the global market, moving beyond...


Instagram and Facebook users in the EU could face a charge of up to €13 a month if they refuse to sign up to...


BANGKOK — Thailand will restore confidence in its critical tourism sector, officials said on Wednesday, a day after a shooting spree at a luxury...


AT A World Trade Organization (WTO) event in September, former British prime minister Gordon Brown voiced out loud the fear that has quietly started...


KUALA LUMPUR — Malaysia will call on ASEAN’s main rice supplying nations to prioritize the bloc’s member countries amid concerns over rising prices and...


TAIPEI — China has “very diverse” ways of interfering in Taiwan’s elections in January, from military pressure to spreading fake news, including manipulating opinion...

You May Also Like

Top News

As the world seeks sustainable and energy-efficient solutions for heating and cooling, the heat pump market is experiencing a significant surge. According to the...


The Toto site’s user-friendly interface makes it easy for both beginners and experienced gamblers to navigate through the various features. “¸ÔÆ¢Æú¸®½º site is a...


Almost 100 jobs are thought to be under threat at smart home energy technology manufacturer myenergi. The Grimsby firm, named one of the UK’s...


JUNIOR FERREIRA-UNSPLASH The Philippines is a very small power market by ASEAN standards, with market demand peaking at 15 gigawatts (GW) compared to Thailand’s...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.