Senate Committee on Ways and Means Chairperson Senator Panfilo “Ping” Lacson has emphasized the importance of an estate tax amnesty in easing the payment of long-overdue estate taxes and facilitating the transfer and registration of inherited properties.
During the committee hearing on Friday, October 23, Lacson stressed the need to balance tax relief for heirs with fair taxation and the government’s revenue collection.
The proposed measure aims to help beneficiaries settle outstanding estate tax obligations and make it easier to legally transfer inherited assets while ensuring the government continues to collect the taxes due.
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