Philippines Senate Considers Bill to Further Extend Estate Tax Amnesty Program

The Philippine Senate Feb. 18 accepted for consideration Bill No. 1866, to further extend, to Dec. 31, 2028, from June 14, 2025, the estate tax amnesty program for the estates of decedents who died on or before Dec. 31, 2024, with unpaid or accrued estate taxes as of that date. The bill includes measures to: 1) apply the further extension to the date for electronically or manually filing a sworn estate tax amnesty return and pay the tax for these estates; and 2) allow payment by installments within two years from the statutory deadline without penalty or interest, if the ...