MANILA – President Rodrigo Duterte on Wednesday signed a bill extending the deadline for seeking an inheritance tax amnesty by two years. Deaths and taxes. This summarizes Revenue Regulation (RR) 6-2019, issued by the Ministry of Finance and the Bureau of Internal Revenue (BIR), which implements the tax amnesty provisions of Republic Act (RA) 11213, the “Tax Amnesty Act of 2019” or Tax Amnesty Act. The rules will enter into force fifteen days after their publication, i.e. on June 15, 2019. With few exceptions, any taxpayer who currently has an unpaid assessment or who has not filed an income tax return for a tax administered by the Ministry may apply for an amnesty. The following taxpayers would not be eligible to participate in the tax amnesty program: RA 11213, which was approved by Duterte on September 14. In February 2019, it provides taxpayers with a unique opportunity to settle their tax obligations through an estate amnesty program that provides appropriate tax relief to estates with unpaid estate taxes. I repeat, the inheritance tax amnesty only covers the estate of persons who died on or before December 31, 2017. It does not exempt the estate from paying real estate transfer tax, since the amnesty only extends to penalties, interest and fines associated with the late payment of this tax. To take advantage of Republic Act No. 11569, the requirements and procedure set forth in the implementing rules to be issued by the Bureau of Internal Revenue must be followed. Who is covered by the Inheritance Tax Amnesty Program? This is the estate of those who died no later than December.

31.2017, with or without a tax assessment, whose inheritance tax remains unpaid from 31 December 2017. However, the regulations provide for coverage exemptions: Republic Act 11569 amends Republic Act 11213 or the Estate Amnesty Act to extend the validity of the estate tax amnesty program. According to RA 11569, the new deadline for filing inheritance tax amnesty declarations has been set at 14 June 2023. On June 30, 2021, Republic Act (RA) 11569 was signed, which extended the application period for inheritance tax amnesty by two years, from June 15, 2021 under Republic Act 11213 or the Tax Amnesty Act of 2019 to June 14, 2023. The duly completed and sworn ETAR, the Acceptance Payment Form (APF) and the complete documents listed in the ETAR will be submitted to the relevant RDO prior to payment of the estate amnesty tax to the appropriate BIR Authorized Agent Bank (AAB) for confirmation of the APF. Note that the AAB will only receive a duly confirmed APF for the payment of the amnesty fee. The use of the tax amnesty and the issuance of the acceptance payment form do not imply an admission of civil or administrative criminal liability on the part of the taxpayer making the request. The estate can benefit from the immunities and privileges of the estate tax amnesty and pay an inheritance amnesty tax of six percent (6%) based on the total net worth of the deceased at the time of death.

If the deductions in force at the time of the death of the deceased exceed the value of the gross estate, heirs, executors or administrators may benefit from the inheritance tax amnesty and pay the minimum amnesty tax of five thousand pesos (₱ 5,000.00). Republic Law (RA) No. 11569 was promulgated on June 30, 2021. It extends until June 14, 2023 the deadline for using the provisions of Republic Act No. 11213 or the Tax Amnesty Act. Advice on the availability of an email channel for questions/explanations about the tax amnesty law. more inheritances within the meaning of the tax amnesty that have fully fulfilled all the conditions set out in the tax amnesty law, including the payment of the inheritance amnesty tax, are exempt from payment of all inheritance tax, as well as all increases and supplements resulting from the non-payment of all inheritance tax for the 2017 and previous tax years, as well as all related civil, criminal and administrative cases and penalties under the National Tax Code. of 1997 as amended.

What are the different types of overdue accounts and how much do I have to pay to apply for amnesty? `Payment of the amnesty tax shall be made at the time of submission of the tax return: provided that, for the deceased non-resident, the declaration of inheritance tax amnesty is lodged and the corresponding amnesty tax is paid to the Finanzbezirksamt Nr. 39 or any other financial district office specified in the implementing rules and regulations,” RA 11569 states. The inheritance amnesty tax rate is 6% and is deducted from the deceased`s total net taxable wealth at the time of death, without penalty at each stage of the transfer of ownership. Note that the minimum amnesty tax for each deceased person is 5,000 pesos. For this reason, the ETA application deadline has been extended until June 14, 2023, as amended by Republic Act No. 11569 and in accordance with Tax Regulation (RR) No. 17-2021 issued by the Bureau of Internal Revenue (BIR) on August 3, 2021. Under the law, Virginia`s tax amnesty program is administered by the Department of Taxation for a period of between 60 and 75 days in fiscal year 2018. All penalties and 50% of interest are waived upon payment of the taxpayer`s balance. At the end of the amnesty period, all remaining commitments eligible for amnesty will be assessed with an additional penalty of 20%.