The House of Representatives approved on second reading a bill that would extend the estate tax amnesty program by another two years.
House Bill No. 7068 seeks to amend Republic Act No. 11213 or the “Tax Amnesty Act” by extending the period of availment of estate tax amnesty to four years from the current two years.
RA 11213 was signed into law by President Rodrigo Duterte on Feb. 14, 2019 and took effect on May 31 of the same year. However, the ongoing pandemic made it difficult for taxpayers to settle their estate tax dues even with the amnesty.
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