MANILA, Philippines — The Senate on Monday approved on third and final reading a bill that seeks to extend the period of the availment of the estate tax amnesty.
Voting 23-0-0, the chamber approved Senate Bill No. 2208, which sets the period to avail the estate tax amnesty fromJune 15, 2021 until June 14, 2023.
The measure seeks to amend Republic Act No. 11213 of the Tax Amnesty Act giving taxpayers a one-time opportunity to settle estate tax obligations through an estate tax amnesty program that gives reasonable tax relief to estates with outstanding estate tax liabilities.
“Unfortunately, just 10 months after the law was enacted—in March 2020—a global pandemic hit us, di…
Keep on reading: Bill extending estate tax amnesty availment period gets final Senate nod