ABS-CBN
House OKs bill extending the estate tax amnesty period to December 31, 2028
The House of Representatives has approved on final reading a bill extending the estate tax amnesty program until December 31, 2028.
House Bill No. 6614, passed with a unanimous vote of 280-0-0, aims to encourage taxpayers to settle outstanding estate tax liabilities.
Eligible individuals include heirs of properties of those who died on or before December 31, 2024.
The bill also introduces an option for installment payments, requiring an initial payment of at least 25% of the outstanding liabilities to be settled within two years.
The extension of the estate tax amnesty is a legislative priority for President Ferdinand R. Marcos, Jr., with the Department of Finance supporting the measure.
The Department of Finance believes the amnesty can help increase the productivity of idle lands across the country.
Under the previous estate tax amnesty program, the Bureau of Internal Revenue collected P15.5 billion between 2019 and June 2025.
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