Bong Go files bill extending estate tax amnesty until 2028
Philippine Senator Bong Go has introduced a bill to extend the estate tax amnesty period until December 31, 2028. The proposal aims to simplify the process and reduce the financial burden on families attempting to settle inherited property taxes.
Why it matters
This legislation addresses administrative hurdles for citizens and provides a mechanism for the government to collect long-overdue tax revenues from estates.
Senator Christopher “Bong” Go has joined other lawmakers in pushing for a bill seeking to extend the estate tax amnesty period and provide more Filipino families with additional time to settle outstanding estate tax liabilities and complete the lawful transfer of inherited properties.
In filing Senate Bill No. 2329, Go noted that many families struggle to settle the affairs of a deceased relative's estate due to the costs and complex processes involved.
“This proposal aims to provide them with more sufficient time and a less burdensome way to fulfill their obligations," Go said of the bill.
SB No. 2329, Go said seeks to amend Republic Act No. 11213, or the Tax Amnesty Act, as amended, by extending the period of availment of the estate tax amnesty until December 31, 2028.
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