Taxpayers urged to take advantage of extended Estate Tax Amnesty 

Taxpayers should avail of the extended Estate Tax Amnesty program as the country observes Tax Awareness Month this February, Senator Win Gatchalian said Monday. 

The tax amnesty has been extended from 15 June 2023, to 14 June 2025.

“Now is the perfect opportunity for heirs and beneficiaries to prepare for their payment, which should be made on or before the extended deadline, while they are already budgeting for their expenses in the first half of the year,”  Gatchalian, who chairs the Senate Committee on Ways and Means, said in a statement. 

Republic Act (RA) 11956, a law principally authored and sponsored by Gatchalian, extends the estate tax amnesty program by two years to give the legal heirs, transferees, or beneficiaries enough time to pay the excise taxes due on the properties they inherited from deceased relatives. 

The amnesty allows for payment at a reduced rate, as heirs will not face penalties or interest for late payment. 

The law also expands the amnesty coverage to include individuals who passed away as of 31 May 2022, replacing the previous cutoff date of 31 December 2017.

Gatchalian stressed the importance of improving tax education in the country. 

“We need to promote and enhance tax education so that we can properly equip taxpayers in fulfilling their obligations in the hope of increasing tax compliance and generating much-needed revenues that would finance government programs and much-needed infrastructure,” he said. 

The law stipulates that filing can be made either manually or electronically with any authorized agent bank or Revenue District Office by the heirs and beneficiaries. 

It also includes an installment payment option to encourage these taxpayers to avail of the amnesty program.

Gatchalian explained that availing of the amnesty program would enable taxpayers to realize the full potential of their assets. 

“Mabibigyan na ng pagkakataon ang mga taxpayers na gawing pormal ang kanilang pagmamay-ari ng anumang ari-arian at masisiguro nila ang kanilang mga karapatan bilang mga lehitimong may-ari (Taxpayers will now have the opportunity to formalize their ownership of any property and ensure their rights as legitimate owners,” he said.

He also mentioned that Tax Awareness Month is a key opportunity to strengthen public support for revenue initiatives and boost tax collection. 

Gatchalian also authored the RA 11976, or the Ease of Paying Taxes Act, aimed at simplifying the tax system and making compliance easier for individuals and small businesses.