Further Amending R.A. No. 11213 (Tax Amnesty Act)

Senate Office of the Sertetary TWENTIETH CONGRESS OF THE REPUBLIC OF THE PHILIPPINES First Regular Session 25 DEC 16 P1:3 SENATE REVOR N S. No. 1618 Introduced by Senator JV Ejercito AN ACT FURTHER AMENDING REPUBLIC ACT NO. 11213, OR THE "TAX AMNESTY ACT", AS AMENDED BY REPUBLIC ACT NO. 11569 AND REPUBLIC ACT NO. 11956, BY EXTENDING THE PERIOD OF AVAILMENT OF THE ESTATE TAX AMNESTY UNTIL JUNE 14, 2027 EXPLANATORY NOTE When Republic Act No. 11213, otherwise known as the "Tax amnesty Act", was passed, its objective is to enhance revenue administration and collection making the country's tax system more equitable by simplifying tax compliance requirements and by granting two types of amenities, and one of which is estate tax. 1 The said law provided for a one-time opportunity to settle tax obligations without having to pay the penalties that had accumulated due to the failure to pay the estate tax on time. This has been statistically shown that the tax amnesty programs increase voluntary compliance and enhance credibility of the taxation system. This bill seeks to provide relief to individuals and businesses by addressing the challenges posed by the previously vetoed 2018 Tax Amnesty Bill, by offering an amnesty from penalties and interests on unpaid taxes. This proposed measure will allow the extension of availment of the estate tax amnesty for another two years, or until June 14, 2027. 1A. Berja and D. Boo (2020). Tax Implications of RA 11213. https://www.ntrc.gov.ph/images/journal/2020/j20200708c.pdf

With the passage of this measure, taxpayers will be able to settle their estate tax liabilities affordably, enabling the government to collect additional revenues, and strengthen tax compliance. The timely passage of this measure is key to delivering necessary assistance to individuals and families facing extraordinary circumstances, and to reinforcing national development initiatives through incentives for asset regularization. In view of the foregoing, the swift passage of this bill is earnestly sought. -00" JV EJERCITO

Senate Office of the Secretary TWENTIETH CONGRESS OF THE ) REPUBLIC OF THE PHILIPPINES First Regular Session 25 DEC 16 P1:32 SENATE RECEIVED BY: S. No. 1618 Introduced by Senator IV Ejercito AN ACT FURTHER AMENDING REPUBLIC ACT NO. 11213, OR THE "TAX AMNESTY ACT", AS AMENDED BY REPUBLIC ACT NO. 11569 AND REPUBLIC ACT NO. 11956, BY EXTENDING THE PERIOD OF AVAILMENT OF THE ESTATE TAX AMNESTY UNTIL JUNE 14, 2027 Be it enacted by the Senate and the House of Representatives of the Philippines, in Congress assembled:

Section 1. Section 6 of Republic Act No. 11213 or the "Tax Amnesty Act", as

amended by Republic Act No. 11569 and Republic Act No. 11956, is hereby further amended to read as follows: "Section 6. Availment of the Estate Tax Amnesty; When and Where to File and Pay. - The executor or administrator of the estate, or if there is no executor or administrator appointed, the legal heirs, transferees or beneficiaries, who wish to avail of the Estate Tax amnesty shall within June 15, 2023 until June 14 [202S] 2027, file, either electronically or manually, with any authorized agent bank, Revenue District Office through Revenue Collection Officer, or authorized tax software provider, a sworn Estate Tax Amnesty Return, in such forms as may be prescribed in the Implementing Rules and Regulations. The payments of the amnesty tax shall be made, either electronically or manually, at the time the Return is filed with any authorized agent bank. Revenue District Office through Revenue Collection Officer, or authorized tax software

provider: Provided, That the appropriate Revenue District Officer shall issue and endorse an acceptance payment form, in such form as may be prescribed in the Implementing Rules and Regulations of this Act for the authorized agent bank, or in the absence thereof, the revenue collection agent or authorized tax software provider concerned, to accept the tax amnesty payment: Provided, further, That for the availment of the estate tax amnesty, the requirements to be submitted to the Bureau of Internal Revenue (BIR) by the tilers of the estate tax amnesty shall be limited to the following: "XXX."

Sec. 2. Implementing Rules and Regulations. - Within thirty (30) days from its

12 effectivity, the Secretary of Finance shall, in coordination with the Commissioner of 13 Internal Revenue, issue the necessary rules and regulations for the effective implementation of this Act. Failure to promulgate the rules and regulations shall not prevent the implementation of this Act upon its effectivity.

SEC. 3. Separability Clause. - If any provision of this Act is declared invalid or

unconstitutional, the provisions not affected thereby shall continue to be in full force and effect.

Sec. 4. Repealing Clause. - All laws, decrees, orders, rules and regulations or

parts thereof which are contrary to or inconsistent with the provisions of this Act are hereby amended, repealed or modified accordingly.

Sec. 5. Effectivity. - This Act shall take effect immediately after fifteen (15)

days from its publication in the Official Gazette or in a newspaper of general circulation. Approved,