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    Application For Estate Tax Amnesty

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    Glenn Rey D. Anino
    The Bureau of Internal Revenue published new regulations providing an estate tax amnesty program to give tax relief to estates with outstanding liabilities. The program covers estates of those who died before December 31, 2017. It imposes a 6% tax rate on the total net taxable estate, with a minimum of 5,000 pesos, without penalties. To apply, the executor, administrator or authorized representative must file BIR Form 2118-EA along with supporting documents within two years at the Revenue District Office covering the decedent's last residence. The BIR will start accepting applications on June 17, 2019.

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    Application For Estate Tax Amnesty

    Uploaded by

    Glenn Rey D. Anino
    30 views1 page
    The Bureau of Internal Revenue published new regulations providing an estate tax amnesty program to give tax relief to estates with outstanding liabilities. The program covers estates of those who died before December 31, 2017. It imposes a 6% tax rate on the total net taxable estate, with a minimum of 5,000 pesos, without penalties. To apply, the executor, administrator or authorized representative must file BIR Form 2118-EA along with supporting documents within two years at the Revenue District Office covering the decedent's last residence. The BIR will start accepting applications on June 17, 2019.

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    Tax

    Original Title

    Tax Amnesty

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    The Bureau of Internal Revenue published new regulations providing an estate tax amnesty program to give tax relief to estates with outstanding liabilities. The program covers estates of those who died before December 31, 2017. It imposes a 6% tax rate on the total net taxable estate, with a minimum of 5,000 pesos, without penalties. To apply, the executor, administrator or authorized representative must file BIR Form 2118-EA along with supporting documents within two years at the Revenue District Office covering the decedent's last residence. The BIR will start accepting applications on June 17, 2019.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    30 views1 page

    Application For Estate Tax Amnesty

    Uploaded by

    Glenn Rey D. Anino
    The Bureau of Internal Revenue published new regulations providing an estate tax amnesty program to give tax relief to estates with outstanding liabilities. The program covers estates of those who died before December 31, 2017. It imposes a 6% tax rate on the total net taxable estate, with a minimum of 5,000 pesos, without penalties. To apply, the executor, administrator or authorized representative must file BIR Form 2118-EA along with supporting documents within two years at the Revenue District Office covering the decedent's last residence. The BIR will start accepting applications on June 17, 2019.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    Application for Estate Tax Amnesty

    On May 31, 2019, the Bureau of Internal Revenue (BIR) published Revenue
    Regulations No. 6-2019 which provides the taxpayers a one-time opportunity to
    settle estate tax obligations through an estate tax amnesty program that will give
    reasonable tax relief to estates with outstanding estate tax liabilities.

    Coverage
    The new estate tax amnesty shall cover the estate of decedent/s who died on or
    before December 31, 2017, with or without assessments duly issued therefor, whose
    estate tax/es have remained unpaid or have accrued as of December 31, 2017.

    Tax Rates and Basis of Tax


    Section 5 of Revenue Regulations No. 6-2019 provides that “an estate tax amnesty
    rate of six percent (6%) shall be imposed on each decedent's total net taxable estate
    at the time of death without penalties at every stage of transfer of property in
    cognizance with the rules of succession under the Civil Code of the Philippines on
    the transmission of properties, interests, rights and obligations of the decedent.
    Provided, that the minimum estate amnesty tax for the transfer of the estate of each
    decedent shall be Five Thousand Pesos (P5,000.00).

    Where and When to File and Pay


    In order to avail of the estate tax amnesty, the applicant shall file a BIR Form No.
    2118-EA Estate Tax Amnesty Return. This return together with complete
    documentary requirements, shall be filed within two (2) years from the effectivity of
    the Implementing Rules and Regulations (IRR) of Estate Tax Amnesty under the Tax
    Amnesty Act to the Revenue District Office (RDO) having jurisdiction over the last
    residence of the decedent at the time of his death.

    Who Shall File


    The return shall be filed by the
executor/administrator/authorized representative
    of estates availing of the Estate Tax Amnesty under Republic Act (R.A.) No. 11213,
    otherwise known as the “Tax Amnesty Act”.

    Start of Application
    The BIR would start accepting applications for the estate tax amnesty program on
    June 17, 2019, after its effectivity.

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