THE VALENZUELA City government has passed a law granting amnesty on the transfer tax surcharges owed by the heir/s of a deceased property owner. Ordinance No. 612, enacted by the city council on Oct. 21 and published on Nov. 11, is in line with Republic Act No. 11213, the Tax Amnesty Act. “A tax relief shall be imposed on all surcharges and interests on local transfer tax on estates of decedent/s who died on or before 31 December 2017 only and shall be availed by the legal heir/s administrator or executor until 14 June 2021,” the ordinance states. It takes effect 15 days from Monday’s publication. Mayor Rexlon T. Gatchalian or his deputized representative has also been granted authority to issue additional guidelines and directives for the implementation of the ordinance. RA 11213, signed into law in February, provides a one-time opportunity to settle estate tax obligations. Valuation of properties will be based on fair market value at the time of the owner’s death. — Vann Marlo M. Villegas

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