The Senate Committee on Ways and Means is currently awaiting a formal position from the Department of Finance (DOF) regarding a proposed measure that seeks to revive and extend the period for availing of estate tax amnesty.
The committee, chaired by Senator Pia Cayetano, is the primary body tasked with deliberating the Estate Tax Amnesty Act of 2026.
While several senators have pushed for the extension, the panel has not yet committed to a specific legislative timeline, citing the need for the DOF’s technical input and revenue impact assessment.
The push for a new extension comes after the previous deadline under Republic Act No. 11956—which had extended the amnesty window until June 14, 2025—officially lapsed.
Without a new law in place, unsettled estates have reverted to the regular tax regime, which includes a 25% surcharge and 12% annual interest on late filings.
Proponents of the bill, including Senate President Pro Tempore Panfilo Lacson and Senate Majority Leader Migz Zubiri, have proposed moving the deadline to either June 2027 or June 2028.
Zubiri emphasized that the measure is vital for families struggling to transfer titles of inherited properties due to the high cost of accumulated penalties.
“We have to emphasize what is the benefit. The amnesty is, basically, you will not be imposed interest penalties and surcharges,” Senator Cayetano noted during a recent hearing, stressing that the bill aims to prevent the further ballooning of estate liabilities.
Under the proposed 2026 Act, heirs would once again be able to settle unpaid estate taxes at a flat rate of 6%, exempt from the usual surcharges and interests. The measure also considers allowing installment payments over a one-year period.
The House of Representatives already took action on the matter, approving its own version of the extension in December 2025.
If passed by the Senate and signed into law, the new act would provide another window for Filipinos to regularize their assets and unlock the economic potential of idle inherited properties.