Estate tax amnesty

Credit to Author: The Manila Times| Date: Tue, 27 Aug 2019 17:05:42 +0000

PAO,
I just want to know if there is an existing amnesty on the payment of estate taxes as my father died 10 years ago, but his estate remains unsettled.
Toppy

Dear Toppy,
Please be informed of the provisions of Sections 2 and 16 of Revenue Regulation 6-2019, implementing the Estate Tax Amnesty under Title II of Republic Act 11213, otherwise known as the “Tax Amnesty Act,” which reads:
“Section 2. Coverage. — The state tax amnesty shall cover the estate of decedent/s who died on or before Dec. 31, 2017, with or without assessments duly issued therefor, whose estate tax/es have remained unpaid or have accrued as of Dec. 31, 2017.
xxx
“Section 16. Implementing and Privileges of Availing Estate Tax Amnesty. — Estates covered by Estate Tax Amnesty, which have fully complied with all the conditions set forth hereof, including the payment of estate tax amnesty, shall be immune from the payment of all estate taxes, as well as any increments and additions thereto, arising from the failure to pay any and all estate taxes for taxable year 2017 and prior years, and from all appurtenant civil, criminal and administrative cases, and penalties under the 1997 Tax Code, as amended.”
Clearly, the abovementioned implementing rules of the Tax Amnesty Act provides for an amnesty for those estates, whose decedents died on or before Dec. 31, 2017 and whose estate taxes remained unpaid or have accrued as of Dec. 31, 2017. Similar to your situation, your late father died 10 years ago and your family has not yet paid the estate tax. Hence, the estate of your late father is covered under the provisions of the said law.
We hope that we were able to answer your queries. This advice is based solely on the facts you have narrated and our appreciation of the same. Our opinion may vary when other facts are changed or elaborated.

Editor’s note: Dear PAO is a daily column of the Public Attorney’s Office. Questions for Chief Acosta may be sent to dearpao@manilatimes.net

http://www.manilatimes.net/feed/