BALANGA CITY, Bataan – The Sangguniang Panlalawigan (SP) on Friday announced that an ordinance it passed granting relief on surcharges and interests on local transfer tax covering real properties transferred by way of succession took effect in this province.
Vice Governor Ma. Cristina Garcia, SP presiding officer, said the approved measure took effect Thursday (July 7, 2022), after compliance with relevant requirements of posting and/or publication as provided under the Local Government Code.
Sponsored by SP member Reynaldo Ibe and unanimously concurred in by 10 board members and interim members, the ordinance was approved last month by the vice governor and then outgoing Governor Albert Garcia.
The vice governor said that Republic Act (RA) 11213, known as the Tax Amnesty Act, as amended by RA 11569, grants a one-time opportunity for taxpayers to settle their estate tax obligations from June 15, 2021, until June 14, 2023, through an estate tax amnesty program for taxable years 2017 or earlier.
The Department of Finance issued a circular to supplement the guidelines for local government units (LGUs) on the grant of relief in support of the estate tax amnesty program.
The circular provided that the grant of relief shall be authorized under a duly enacted local ordinance upon the effectivity of the said circular in accordance with the Local Government Code of 1991, Vice Governor Garcia said.
Lawyer Mark Lorenz Quezon, SP secretary, explained that the grant of relief will be imposed only on surcharges and interests on local transfer taxes on estates of persons who died on or before December 31, 2017, and to be availed by the legal heirs, administrator or executor until June 14, 2023.
Quezon said the grant of relief will be applied to the transfer of real property ownership by succession only, and in no case will apply to other kinds of transfer. (PNA)
