Manila: Sen. Jinggoy Estrada has introduced a bill aimed at extending the estate tax amnesty period, which concluded last June 14, for an additional three years, until June 14, 2028. The purpose of this extension is to provide Filipino families with more time to address long-standing inheritance matters without the pressure of penalties or significant financial burdens.
According to Philippines News Agency, Senate Bill No. 1488 proposes amendments to the Tax Amnesty Act, or Republic Act No. 11213, which was earlier updated by RA 11569 and RA 11956. The bill seeks to grant heirs and beneficiaries extra time to legally transfer ownership of inherited properties. The proposed legislation allows heirs to file their Estate Tax Amnesty Return both manually and electronically at authorized agent banks, Revenue District Offices, Revenue Collection Officers, or through authorized tax software providers.
Estrada emphasized in a statement on Wednesday that organizing deeds of inherited lands or properties has been a persistent issue for many Filipino families. He noted that the challenges are not due to a lack of willingness but stem from financial constraints, insufficient documentation, family disputes, and limited access to legal assistance.
The senator highlighted that despite the implementation of RA 11213, which waived penalties and eased compliance requirements for heirs unable to settle inherited estates, a significant number of Filipino families have not taken advantage of the amnesty. He pointed out that many are unable to afford legal counsel, while others find it difficult to navigate legal procedures due to a lack of information.
By proposing an extension of the tax amnesty to 2028, Estrada aims to provide families with a genuine opportunity to formalize property ownership, unlock the economic potential of idle lands, and resolve long-standing estate issues. He stated that the measure continues the true intent of the estate tax amnesty, which is to assist families who have been unable to meet their obligations not out of defiance but due to incapacity. Through this extension, families are empowered to move forward, make productive use of their inherited property, and contribute to national development.
