House approves estate tax amnesty extension bill

The House of Representatives has comfortably passed on third and final reading the proposed law seeking to extend the coverage and period of availment of the Estate Tax Amnesty Program.

- By ELLSON QUISMORIO

Approved on the strength of 280 “yes” votes during the House plenary session Tuesday, Dec. 16, was House Bill (HB) No. 6614.

Shepherding its final passage in the 300-plus strong legislative chamber was Marikina City 2nd District Rep. Miro Quimbo, chairman of the Committee on Ways and Means.

The proposed statute sought to give Filipino families a longer, simpler, and more affordable process to settle long-unpaid estate taxes and secure titles to inherited properties.

It expands the coverage to the estates of decedents who died on or before Dec. 31, 2024 and extends the filing period by four years or until Dec. 31, 2028. This will allow heirs, administrators, and beneficiaries to avail themselves of the amnesty without penalties, surcharges, or interest, while paying significantly lower estate taxes.