House panel OKs bill extending availment of estate tax amnesty

The House ways and means panel on Tuesday approved a bill extending the period of availment of estate tax amnesty from June 15 this year to June 14, 2025.

The committee, chaired by Albay Representative Joey Salceda, also approved a motion by Nueva Ecija Rep. Ria Vergara that a provision stating the heirs who got a donated estate worth P1 million and below will not have to pay the 6% donor’s tax anymore be included in House Bill 7409.

Vergara made the motion after Salceda suggested such provision.

“Instead of us passing estate tax amnesty laws, my suggestion is such an exemption of donor’s tax for those whose estate is worth P1 million and below so the parents can donate to their children before their time and these children won’t have to pay the donor’s tax anymore,” Salceda said.

“We should let the living, as they know their children, to make decisions,” he added.

Not a shield for Marcoses' dues

House Deputy Minority Leader France Castro asked Salceda and the Bureau of Internal Revenue (BIR) if this will benefit President Ferdinand Marcos, Jr. and his family who has an unpaid estate tax of P203 billion.

Salceda and the BIR assured Castro that the measure will not benefit the Marcos family since Republic Act 11213, which is being amended by House Bill 7409, is explicit in stating that the Estate Tax Amnesty will not extend to estate tax cases which shall have become final and executory.

The Supreme Court ruling imposing estate tax on the Marcos family became final and executory on March 9, 1999.

“We respect the decision of the Supreme Court. And secondly, the Republic Act 11569 [which previously extended period of estate tax availment from June 15, 2021 to June 14, 2023] covers those who died until December 2017. May I just state those two facts,” Salceda said.

“He (President Marcos) cannot take advantage of this,” he added.

BIR Assistant Commissioner Ma. Luisa Belen backed Salceda, citing the exceptions provided by RA 11213 including:

•     estate tax cases which shall have become final and executory
•     properties involved in cases pending in appropriate courts
•     those falling under the jurisdiction of the Presidential Commission on Good Government (PCGG);
•     those involving unexplained or unlawfully acquired wealth under Republic Act No. 3019, otherwise known as the Anti-Graft and Corrupt Practices Act, and Republic Act No. 7080 or An Act Defining and Penalizing the Crime of Plunder;
•     those involving violations of Republic Act No. 9160, otherwise known as the Anti-Money Laundering Act, as amended;
•     those involving tax evasion and other criminal offenses under Chapter 1 of Title 10 of the National Internal Revenue Code of 1997, as amended; and
•     those involving felonies of frauds, illegal exactions and
•     transactions, and malversation of public funds and property under Chapters 3 and 4 of Title 7 of the Revised Penal Code.

—AOL, GMA Integrated News