Duterte signs law extending estate tax amnesty

President Rodrigo Duterte has signed a law extending the availment period of estate tax amnesty for two years, or until June 14, 2023.

Republic Act No. (RA) 11569, signed by Duterte on June 30, 2021, amended RA 11213. The Tax Amnesty Act previously set June 14, 2021, as the due date for the filing of estate tax returns.

READ: Republic Act No. 11569

“The executor or administrator of the estate, or if there is no executor or administrator appointed, the legal heirs, transferees or beneficiaries, who wish to avail of the Estate Tax Amnesty shall, within June 15, 2021, until June 14, 2023, file with the Revenue District Office of the Bureau of Internal Revenue, which has jurisdiction over the last residence of the decedent, a sworn Estate Tax Amnesty Return, in such forms as may be prescribed in the Implementing Rules and Regulations,” the new law stated.

RA 11569 directs the Secretary of the Department of Finance, in coordination with the Commissioner of the Bureau of Internal Revenue, to issue the necessary rules and regulations for the effective implementation of this Act “within 60 days from its effectivity.”

Lawmakers who pushed for the two-year extension said COVID-19 restrictions have made it difficult for taxpayers to settle their estate tax dues even with the amnesty.