Zubiri signs Maharlika and Estate Tax Amnesty Extension bills

Senate President Juan Miguel “Migz” Zubiri signed three enrolled bills in Washington, DC, on Wednesday – the Maharlika Investment Fund Act, Estate Tax Amnesty Extension Act, and the act recognizing Baler, Aurora, as the birthplace of Philippine Surfing.

Zubiri signed the enrolled bills at the Philippine Embassy in Washington DC, where he is presently conducting a working visit, and holding meetings with members of the United States Congress and government agencies.

Senate Secretary Renato Bantug, who is part of the Senate contingent for the working visit, brought along the enrolled copies to Washington.

“The Maharlika bill is a priority measure, and the Estate Tax Amnesty Extension is very time-sensitive. Marami nang naghihintay sa mga bills na ito. Fortunately the enrolled copies were already prepared by the time Secretary Bantug was set to join us in Washington,” Zubiri said.

“So he was able to bring them along with him, instead of letting them sit in the Senate waiting for my return, and I was able to sign them on Philippine soil, here in the embassy,” he explained. “This was at no expense to the Philippine government, kasi kasama naman talaga namin si Secretary Bantug sa Senate delegation. Isinabay na lang dalhin itongenrolled bills.”

The Estate Tax Amnesty program has expired on 14 June 2023. The Estate Tax Amnesty Extension Act will push the period of availment by two years, or up to 14 June 2025. Malacañang had certified it as an urgent measure.

Ambassador Jose Manuel “Babe” Romualdez and Senator Francis Tolentino, who are part of the working visit, witnessed the signing.

“We have a few more days of meetings here in Washington, but with these enrolled bills already signed, we can send them out straightaway upon our return,” said Zubiri.

The Estate Tax Amnesty Extension Act is set to be sent to Malacañang for the signature of the President, while the Maharlika Investment Fund Act is set to be sent to the House of Representatives for the signature of the Speaker.