Latest issues on BIR Regulation in Estate Tax Amnesty (RR) No. 6-2019

The Bureau of internal Revenue (BIR) released a revenue regulation (RR) No. 6-2019,  Estate Tax Amnesty 2019. The said BIR regulation was published on May 31, 2019 to take effect on Monday, June 17, 2019. The Department of Finance (DOF) had estimated a 6.28-billion revenue from estate tax amnesty in it’s two years implementation.

Republic Act No. 11213 (Tax Amnesty Act) provided for collection of only 6% of each deceased’s total net taxable estate at the time of death.

What is Estate Tax Amnesty or RR No. 6-2019?

The program of RR No. 6-2019, provides the taxpayers a one time opportunity to settle estates tax obligation through an estate tax amnesty program that will give reasonable tax relief to estates with outstanding estate tax liabilities. Under RR 6-2019, the minimun estate tax for the transfer of the estate of each decedent will be P5,000.

Who are covered by the Estate Tax Amnesty program?

These are the estate decedent’s who died on or before December 31, 2017, with or without tax assestment issued, whose estate taxes remain unpaid as of December 31, 2017. Exemption under RR includes:

-deliquent estate tax liabilities, which have become final executory and covered by tax amnesty on deliiquencies; and properties involved in cases pending in appropriate courts.

How to avail Estate Tax Amnesty?

In the payment and filing for estate tax , availees should secure an estate tax amnesty return form, and shall file their estate tax amnesty application within two year from the effectivity of the RR. The form shall be filed at the respective Revenue District Office (RDO) having jurisdiction over the last residence of the decedent.

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