HOUSE Ways and Means Chair Joey Sarte Salceda (Albay, 2nd district) says that he will recommend the adoption by the House plenary of the Senate version of the Estate Tax Amnesty extension bill once it is approved on third reading on Monday.
“No more bicam for that one. No need, anyway. House Ways and Means Committee concurs with the provisions of the Senate version,” Salceda said.
On top of the House version’s provisions – which extend the Estate Tax Amnesty period to June 2025 – the Senate version also extends the period of deaths covered to May 2022.
The Senate version also provides for electronic filing of estate tax amnesty applications, and limits the number of documents required for filing.
“We agree. So, we will move for adoption. If they can transmit by Monday, we will ratify by Monday. Anyway, I expect the House to wait for the Senate’s formal transmittal the whole day Monday,” Salceda added.
“This is a most urgent priority for the House leadership, so, you can count on immediate adoption by the House once we receive the formal transmittal from the Senate. We have also been in constant communication with my Senate counterpart, Senator Gatchalian, to hammer out any style issues.”
The Senate also shortened the period for issuing the implementing rules and regulations to 30 days, from 60 days.
Salceda earlier estimated that as much as 920,000 Filipino families have unsettled estates that could benefit from the amnesty.
“The amnesty is also consistent with the full estate tax forgiveness envisioned under the New Agrarian Emancipation Act, set to be PBBM’s most significant legislative accomplishment on his first year,” Salceda explained.
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