MANILA – The Bureau of Internal Revenue (BIR) said heirs of deceased individuals can benefit from the estate tax amnesty program without incurring fines or penalties.
They will also be shielded from criminal, civil, and administrative legal actions for late estate tax filings and payments, as prescribed in the Tax Code.
Revenue regional directors and district officers made the assurance as the agency released Revenue Regulations No. 10-2023, which implements the revised Estate Tax Amnesty Law.
However, they warned that penalties, interest, and surcharges will be applied along with the criminal prosecution of individuals who submit fraudulent returns.
The revenue field officials stressed that these updated guidelines aim to simplify the process of filing estate tax returns by reducing the required documentation, making it more accessible for heirs to avail themselves of this opportunity.
The necessary documents for submission include a certified true copy of the death certificate or a certificate of no record of death from the Philippine Statistics Authority, Taxpayer Identification Numbers for both the deceased and heirs, and one government-issued identification card for heirs or the estate administrator.
Furthermore, specific requirements for real and personal properties are detailed to ensure a comprehensive assessment.
Estate tax amnesty filers are advised to carefully review the guidelines to avoid submitting inaccurate returns.
The deadline for filing the estate tax return is set for June 14, 2025, covering deaths that occurred from May 31, 2022, and prior years.
The full text of the four-page regulations is available in the Manila Bulletin’s last Tuesday issue. (MB)
