Marcos party: P23-B estate tax is final, penalties still unresolved

The Supreme Court in 1997 ruled with finality that the family of the late former dictator Ferdinand Marcos owed P23 billion in estate tax, his son and namesake's political party said on Tuesday.

According to Partido Federal ng Pilipinas general counsel George Briones, the remainder of the P203 billion the Marcoses are said to owe after years of delay in payment may still be subject to reconciliation.

Former Senator Ferdinand Marcos Jr. is running for president under the PFP.

"'Yung sinasabi nilang finality, ang final diyan yung assessment ng ?23 billion," Briones said on CNN Philippines.

“Kapag pagmamasdan mo ang balita ngayon parang ang sinasabi na yata yung P23 billion ay naging P203 billion. So, nadagdagan ng P180 billion," he added.

Most of the higher amount being reported is due penalties and surcharges.

“What I am saying is, the figure of P203 billion is not final. Sapagkat subject po iyan for reconciliation,” Briones said.

(What's final is the assessment of P23 billion... When you look at the news today, it seems that the P23 billion has become P203 billion. So, it increased by P180 billion... What I'm saying is, the figure of P203 billion is not final because that is subject to reconciliation.)

Briones explained that clients who do not pay their loan payments or mortgages for their property were usually exempted from penalties and surcharges imposed by commercial banks.

“Ang binabayaran na lang po ng may utang ay ‘yung kanilang interest because that is the cost of money. Ayan po, standard ‘yan sapagkat ang bangko hindi naman po iyan real estate company. Aanuhin nila ang lupa?” Briones said.

(The only thing the debtor pays is their interest because that is the cost of money. That’s the standard because the bank is not a real estate company – what will they do with the land?)

Aksyon Demokratiko, the party of Manila Mayor Isko Moreno, on Monday requested a “certificate of finality” on the decision on the Marcoses’ unpaid estate tax from the SC.

Aksyon stalwart Ernest Ramel said the Marcoses' non-payment of the estate tax showed disregard for the law and lack of respect for the people.

The Supreme Court in 1998 affirmed the ruling of the Court of Appeals that pegged the estate tax of the Marcos’ family at P23 billion.

Former Senior Associate Justice Antonio Carpio has urged the Bureau of Internal Revenue to file criminal cases against the Marcos family for “willfully” refusing to pay their tax liabilities.

However, Briones argued that the issues on Marcos’ tax debts doesn’t concern their party.

“We made a study, and more than 80% of our people do not know what estate proceedings are and what an estate tax is,” he pointed out.

“Secondly, this issue was drowned out by the successive endorsements of senator Marcos by big political parties like PDP-Laban, the NUP (National Unity Party), the Reform Party and the FPJ-BM,” he said. —NB, GMA News