DOF backs extension of Estate Tax Amnesty to 2028

The Department of Finance (DOF) has endorsed a proposal to extend the Estate Tax Amnesty deadline to Dec. 31, 2028, providing Filipino families more time to settle tax obligations on inherited properties.

The proposed extension, outlined in House Bill 6614, aims to ease the financial burden on heirs and beneficiaries facing legal and monetary hurdles in transferring ownership of estate assets.

“This will maximize the use of idle assets and boost productivity,” said Finance Secretary Frederick D. Go.

The estate tax is a one-time levy imposed under the National Internal Revenue Code (NIRC) for the lawful transfer of a deceased person’s assets to their heirs.

By supporting the extended Estate Tax Amnesty, the DOF seeks to help families who have struggled to formalize inheritance due to cost, paperwork, or lack of resources.

The measure covers estates of individuals who died on or before May 31, 2022, and includes safeguards to prevent abuse of the amnesty program.

To ensure fairness and minimize discretion, applicants must submit all required documents and pay the corresponding amnesty tax by the new deadline.

The proposal allows payment in installments over a one-year period starting from the date the Acceptance Payment Form is issued.

Failure to meet the requirements or payment deadlines will subject the estate to standard penalties and surcharges as mandated by the NIRC.