THE proposed extension for availing of the estate tax amnesty will head to Malacañang directly without the need to go through the bicameral conference committee stage after the House of Representatives moved to adopt the Senate’s version of the measure.
Late Monday, House legislators approved a motion to concur with the Senate’s version of the measure, adopting Senate Bill (SB) 2208. The bill’s House counterpart is House Bill (HB) 7068, which proposes to extend the estate tax amnesty by another two years.
“We have been informed that the Committee on Ways and Means, sponsor of House Bill No. 7068, as well as the authors thereof, are in concurrence with the provisions of Senate Bill No. 2208. In accordance with our rules, I move to adopt Senate Bill No. 2208 as an amendment to House Bill No. 7068,” Iloilo City Rep. Lorenz R. Defensor said at the plenary session Monday.
With the House adopting the measure, there will be no need for a bicameral meeting on the bill and the bill will be transmitted to the President, skipping a potentially time-consuming stage before Congress adjourns on June 4.
The Senate approved SB 2208 on third and final reading on Monday afternoon. HB 7058 was approved in September.
If signed, the proposed law will amend Republic Act (RA) No. 11213 or the Tax Amnesty Act of 2019, which was set to expire on June 15.
The bill amends the expiration provision to “four years from the effectivity of the Implementing Rules and Regulations of this Act” from the original two years provided for in RA 11213. This will move the expiration date for amnesty applications to June 14, 2023. — Gillian M. Cortez