Tag: Tax Amnesty

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Tax Law, Estates

FREE e-book, Checklist for Estate Tax Amnesty

As of this writing we are 24 days away from the deadliest deadline of the Extended Estate Tax Amnesty on June 14, 2025. We cannot respond to all your inquiries so we are giving away for FREE the Ultimate Guide to the Estate Tax Amnesty by Atty. Joshua Santiago, AND our (previously available only to clients) checklist, along with RMC 40-2025 so you can present this to the BIR if they require you to submit a Deed of Extrajudicial Settlement when you apply.

This is our way of doing our own part to help. So far no word if it will be extended but in case it is not, this may be your last chance to avail of the 6% rate (instead of 20%/35%) and without interest and penalties.

Get it here after you sign up for our newsletter! We promise we will only send 1-2 a month.

And here is a copy of Revenue Memorandum Circular 40-2025 where it states clearly you do NOT need to present the Deed of Extrajudicial Settlement when you apply for estate tax amnesty. Though you will eventually need it before an eCAR is issued.

RMC No. 40-2025Download

Categories
Tax Law, Estates

Estate Tax Amnesty is EXTENDED AGAIN…most likely!

The Estate Tax Amnesty was extended yet again with the House passing the bill with great speed and the Senate adopting it and signing it recently as is so as to ensure it beats the deadline. The only thing needed now is the signature of the President.

If approved, the extension will now benefit more people as it shall cover estates of decedents who passed away on or before May 31, 2022. Before it was only for those who died before 2018.

Other changes are less requirements, online filing as well as installment options. This is indeed good news and most likely the last time in a long time we will benefit from this.

The Department of Finance already announced in their website that the President will sign before the State of the Nation Address.We hope he signs it before the deadline on June 14, though.

Once out, we will come up with another Ultimate Guide on our Youtube and Facebook channel.

Categories
Tax Law, Estates

Congress APPROVES the estate tax amnesty extension!

Great News for Estate Tax Amnesty fans!

The House of Representatives agreed with the Senate version of the Estate Tax Amnesty extension, so no need for bicameral hearing anymore!

Now, it is up to the President.

Once this bill is passed into law, you will have another 2 years to avail of the amnesty!

Though this time, maybe even without the Extrajudicial Settlement that is currently problematic because of all the travel restrictions due to COVID.

You may read the entire Business World article .

If you have any questions regarding the Estate Tax Amnesty, you may send us a message or email us at in**@*****aw.com

We will let you know when it all happens!

And if Estate Tax Amnesty is extended, we will be again opening our virtual doors for free consultations!

Maybe this time, we all won’t wait until the last minute to work on it again, eh?

Keep safe and God bless.

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Article

141 days Before the Estate Tax Amnesty Expires

death and taxes, tax amnesty, estate taxes

Do you have a house or land that could not be transferred because of estate taxes? For those who died before 2018, you can save a lot on estate taxes under the estate tax amnesty law which will expire on June 14, 2021.

This will be the last chance to avail of the 6% tax on the net estate or a minimum of only PHP 5,000 for loved ones who died before the year 2018. If not, estate tax rates can go up to as much as 20% PLUS interest and penalties.

For more information, see https://www.bir.gov.ph/images/bir_files/internal_communications_1/Digest%20RR%202019/RR%206-2019.pdf


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