Finance Secretary Frederick Go has backed the House of Representatives’ proposal to extend the estate tax amnesty for another three years, until December 31, 2028.
In a statement, Go said the extension would give Filipino families more time to settle obligations on inherited properties.
“This will maximize the use of idle assets and boost productivity,” he added.
Go’s green light follows the Committee on Ways and Means’ approval on November 26 of the consolidated measure to extend the amnesty for estates of descendants beyond the original December 31, 2024, cutoff.
The committee had been waiting for the Department of Finance’s official position, as discussions were delayed due to recent changes in leadership, with Go now at the helm of the department.
Meanwhile, Go on Tuesday, December 9, underscored that the easing of the country’s headline inflation rate to 1.5 percent in November is a result of targeted government measures to moderate food prices.
This brings the average year-to-date inflation to 1.6%, well below the government’s target range of 2.0% to 4.0% for the year.
Go said the government will sustain its measures aimed at ensuring the affordability of both food and non-food commodities for Filipino families.
This is in line with President Ferdinand R. Marcos, Jr.’s directive to protect Filipinos’ purchasing power and strengthen food security. (Nyah Genelle C. De Leon © Philippine Daily Inquirer)
