Tax Law, Estates

3 More Distinct Features of the Estate Tax Amnesty Law

The Estate Tax Amnesty program have very distinct features that make it easier than regular estate tax settlement.

First, they won’t question your return as it enjoys the conclusive presumption as true, correct and final. This means that it will not matter whether there are other properties still comprising the estate. Of course the rules still apply but the tax return enjoys a “conclusive presumption of correctness”, to wit,

“Section 7. Presumption of Correctness of the Estate Tax Amnesty Returns. – The Estate Tax Amnesty Returns shall be conclusively presumed as true, correct, and final upon filing thereof, and shall be deemed complete upon full payment of the amount due.”

What is a conclusive presumption?

In the case of MATILDE MENCIANO et al, v. PAZ NERI SAN JOSE. G.R. No. L-1967. May 28, 1951, the syllabus stated,

“The provisions of Rule 123, section 68(c) on conclusive presumption are so clear that they do not require interpretation or construction, but only application.”

We therefore submit that the documents you present are no longer subject to interpretation or construction but only application.

A second feature is that there is no need for an accountant’s certification regarding the estate’s computation if the estate is more than the threshold amount at the time.

A third feature is that there is no need for a certificate of non-holdings from the nearby cities – quite tedious!

Thanks for reading and keep safe!

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