Manila: Senator Sherwin Gatchalian has called on taxpayers to take advantage of the extended estate tax amnesty program offered by the government. The program, seen as beneficial for both the taxpayers and the government, has been extended under Republic Act 11956, which amends the Tax Amnesty Act. It allows heirs, transferees, and beneficiaries to settle estate taxes without incurring penalties or interest until June 14, 2025.

According to Philippines News Agency, the program's expanded coverage now includes estates of individuals who passed away on or before May 31, 2022, extending the previous cut-off date from December 31, 2017. Gatchalian, who authored and sponsored the law, emphasized that this extension provides families with additional time to comply with the requirements and legalize their ownership of inherited properties.

Gatchalian stated, "Now is the perfect opportunity for heirs and beneficiaries to settle their obligations while they are already budgeting for their expenses in the first half of the year." This statement was made in a news release coinciding with Tax Awareness Month in February.

The filing process for the amnesty program can be completed manually or electronically at authorized banks or Revenue District Offices, and installment payments are available to encourage broader participation. Beyond the amnesty program, Gatchalian also underscored the importance of tax education, urging Filipinos to proactively understand their tax obligations.

He further noted, "We need to promote and enhance tax education so that we can properly equip taxpayers in fulfilling their obligations in the hope of increasing tax compliance and generating much-needed revenues that would finance government programs and infrastructure."