Salceda calls on House to adopt Senate version of bill extending estate tax amnesty

House ways and means panel chairperson Joey Salceda called on Wednesday his colleagues in the House of Representatives to adopt the Senate version of the proposed Estate Tax Amnesty Extension bill.

Salceda issued the call a day after the Senate approved the measure on second reading.

“No more bicam for that one. No need, anyway. House ways and means committee concurs with the provisions of the Senate version,” he said in a statement.

While both the House and Senate versions of the bill extend the estate tax amnesty period to June 2025, the Senate version also extends the period of deaths covered until May 2022.

The Senate version also provides for electronic filing of estate tax amnesty applications and limits the number of documents required for filing.

“We agree [on these and] so, we will move for adoption. If they can transmit by Monday, we will ratify by Monday. Anyway, I expect the House to wait for the Senate’s formal transmittal the whole day Monday,” Salceda pointed out.

“This is a most urgent priority for the House leadership, so, you can count on immediate adoption by the House once we receive the formal transmittal from the Senate. We have also been in constant communication with my Senate counterpart, Senator (Sherwin) Gatchalian, to hammer out any style issues,” he added.

The Senate version of the measure also shortened the period for issuing the implementing rules and regulations of the bill from 60 days to 30 days.

Salceda earlier said that as much as 920,000 Filipino families have unsettled estates that could benefit from the amnesty.

The Finance Department earlier projected that such extension will generate additional P2.5 billion worth of government revenues.—AOL, GMA Integrated News