SENATOR Sherwin T. Gatchalian advocates allowing installment payments for taxpayers availing of the impending extension of the real estate tax amnesty period.
Foreseeing the extended estate tax amnesty will draw in late taxpayers, Gatchalian said he aims to include a provision allowing an installment-payment feature in the proposed measure extending estate tax amnesty. He said doing so would “encourage more taxpayers to avail of the tax reprieve.”
The senator recalled such provision stemmed from comments made by Tax Management Association of the Philippines President Suzette Celicious-Sy at a recent public hearing on the proposed measure that some taxpayers simply do not have the financial capacity to pay for their respective estate taxes.
“Kailangan nating tulungan ang mga kababayan natin na walang masyadong kapasidad na makapagbayad ng estate tax. Importante ang probisyon na ito para mas maging epektibo ang extension na gagawin para sa estate tax amnesty,” Gatchalian said. [We need to help our countrymen who do not have much capacity to pay estate tax. This provision is important for the extension to be made for the estate tax amnesty to be more effective.]
The senator recalled that “as proposed, those who will avail of such feature will be allowed to pay the estate tax due on installment within a period of two years.”
Presiding as chairman of the Senate Committee on Ways and Means, Gatchalian filed Senate Bill 2197 amending Republic Act 11213 to extend by two years and “simplify the process of availing of the estate tax amnesty program.”
To encourage more taxpayers to avail of the tax relief, Gatchalian also aims to expand the coverage of the estate tax amnesty program by including estates of decedents who passed away on or before December 31, 2021, to include those who lost a loved one at the height of the Covid-19 pandemic. This, as the Gatchalian bill noted that the current program only covers the estate of those who passed away on or before December 31, 2017.
“To make it easier for those who want to avail of the tax amnesty program,” the lawmaker adds that the enabling bill also aims to “exclude the submission of proof of settlement of the estate, whether judicial or extrajudicial, as one of the requirements set by the Bureau of Internal Revenue for those who want to avail of the estate tax amnesty program.”
Moreover, the senator is keen to “institutionalize a platform that would allow electronic filing of return and payment of estate tax, a step further towards simplifying and making it easier for taxpayers to fulfill their obligations.
He asserts “it is important that paying taxes be easier and simpler.”
“Importante na mas madali at mas simple ang proseso ng pagbabayad ng buwis hindi lamang para mas maging mahusay ang pangongolekta ng buwis kundi para mas marami sa ating mga kababayan ang tumupad sa kanilang mga tungkulin,” Gatchalian said. [It is important that the process of paying taxes is easier and simpler not only to make tax collection more efficient but also so that more of our citizens can fulfill their duties.]