The bill, which sought to expand the coverage of the estate tax amnesty and prolong the period for eligibility by an additional two years, has now transitioned into law. Republic Act (RA) No. 11956 extends the window for availing the estate tax amnesty for an additional two years, spanning from June 15, 2023, to June 14, 2025.


This new legislation also broadens the scope of the amnesty, encompassing the estates of individuals who passed away on or before May 31, 2022. In contrast, the previous law only applied to estates of individuals who died on or before December 31, 2017, and had a two-year amnesty period that concluded on June 14, 2023.


Interestingly, the Estate Tax Amnesty Extension Act didn’t receive the signature of President Ferdinand R. Marcos, Jr., and thus, it automatically became law on August 5. According to standard legislative procedures, a bill becomes law if the President takes no action on it within 30 days of its submission to Malacañang.


The new law also allows estate tax payment in installments within two years from the statutory deadline, free from civil penalties or interest.


According to the law, the implementing rules and regulations should be issued within 30 days, as opposed to the previous requirement of 60 days.


It’s important to note that the estate tax amnesty initially ran from June 15, 2019, to June 14, 2021, under RA 11213. It was subsequently extended for an additional two years, from June 15, 2021, to June 14, 2023.