House passes bills extending passport validity, estate tax amnesty

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House in plenary (file)

Metro Manila (CNN Philippines) — The House of Representatives (HOR) passed on third and final reading three House Bills (HB) on Monday, tackling passport validity and estate tax.

HB 4767, which seeks to extend the validity of the Philippine passport to ten years, was approved unanimously.

The bill seeks to amend Republic Act 8239, or the Philippine Passport Act of 1996, which limits passport validity to five years.

The lower chamber likewise voted 216-0 on the HB 4814, granting amnesty in the payment of estate tax for taxable year 2016 and prior years.

Under the bill, any person who wishes to avail of the estate tax amnesty may file an Estate Tax Amnesty Return with the Bureau of Internal Revenue.

However, the amnesty may not be availed by any persons with pending cases including graft, money laundering, and tax cases as of the effectivity of the law.

Consequently, the HOR also approved the HB 4815, which seeks to simplify the estate tax rate.

The bill seeks to amend the National Internal Revenue Code of 1997 by proposing a single estate tax rate of 6 percent, based on the value of the net estate.