Tax Amnesty Act

October 21, 2019 Excerpts from the Minutes of the 15th Regular Session of the 8th City Council of Valenzuela Held on October 21, 2019 at 3:26 P.M. at the City Council's Session Hall, 3rd Floor, Legislative Building, Valenzuela City Hall, Karuhatan, Valenzuela City, Metropolitan Manila. VALENZUELA CITY ORDINANCE NO. 612-19 AN ORDINANCE GRANTING TAX AMNESTY ON TRANSFER TAX FOR PROPERTIES COVERED BY ESTATE TAX AMNESTY UNDER TITLE II OF REPUBLIC ACT NO. 11 213, OTHERWISE KNOWN AS THE "TAX AM NESTY ACT" Authored by: Coun. Rovin Andrew M. Feliciano Co-authored by: Vice Mayor Lorena Natividad-Borja, Coun. Ricardo Ricarr C. Enriquez, Coun. Ramon L. Encarnacion, Coun. Jennifer P. Pingree, Coun. Joseph William D. Lee, Coun. Walter Magnum D. Dela Cruz, Coun. Crissha M. Pineda, Coun. Kimberly Ann Galang-Tiangco, Coun. Kristian Rome T. Sy, Coun. Nia Shiela B. Lopez, Coun. Louie P. Nolasco, Coun. Chiqui Marie N. Carreon, Coun. Bienvenido S. Bartolome, Jr. and Coun. Exequiel D.J. Serrano WHEREAS , Republic Act (R.A.) No. 11213, otherwise known as the Tax Amnesty Act provided a one-time opportunity to settle estate tax obligations through an estate tax amnesty program that will give reasonable tax relief to estates with deficiency estate taxes; HTcADC WHEREAS , Bureau of Internal Revenue Regulations No. 6-2019 dated 29 May 2019 was issued implementing the provisions of Estate Tax Amnesty under Title II of R.A. No. 11213; WHEREAS , Department of Finance Circular No. 001-2019 was issued providing for guidelines in the Grant of Relief on Surcharges and Interests on Tax on Transfer of Real Property Ownership in Support of the Estate Tax Amnesty Program; WHEREAS , R.A. No. 11213 only covers national imposition on estate taxes that have remained unpaid or have accrued as of December 31, 2017. It does not cover transfer tax that will still be paid for purpose of transferring ownership of the estate; WHEREAS , to support the intention of R.A. No. 11213, the local government units may, through ordinances duly approved, grant tax incentives and reliefs under such terms and conditions as they may deem necessary pursuant to Section 192, Republic Act No. 7160. NOW, THEREFORE , be it ORDAINED , as it is hereby ORDAINED , by the City Council of Valenzuela, in a session duly assembled THAT: SECTION 1. Title and Coverage . This Ordinance grants tax amnesty on transfer tax for properties covered by estate tax amnesty under Title II of Republic Act No. 11213, otherwise known as the "Tax Amnesty Act." SECTION 2. Coverage . 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. SECTION 3. Exceptions . The Tax relief shall not extend to those covered by the exemptions under the Tax Amnesty Act. SECTION 4. Implementing Guidelines . This Ordinance is self-executory upon due publication. However, the City Mayor or his deputized authority is hereby authorized to issue additional guidelines and directives to effectively implement the mandate of this Ordinance, if found necessary. SECTION 5. Separability Clause . If for any reason, a part of this Ordinance is declared illegal or invalid, other parts or provisions hereof which are not affected thereby shall remain valid and in full force and effect. SECTION 6. Repealing Clause . All previous Ordinance and rules/regulations which are inconsistent with the provisions of this ordinance are hereby deemed modified or repealed accordingly. aScITE SECTION 7. Effectivity Clause . This Ordinance shall take effect fifteen (15) days after its publication in a newspaper of general circulation. ENACTED: OCTOBER 21, 2019, VALENZUELA CITY, METROPOLITAN MANILA. (SGD.) HON. ROVIN ANDREW M. FELICIANO Councilor Majority Floor Leader (SGD.) HON. CRISSHA M. PINEDA Councilor Minority Floor Leader (SGD.) HON. KIMBERLY ANN GALANG-TIANGCO Councilor Asst. Majority Floor Leader (SGD.) HON. RICARDO RICARR C. ENRIQUEZ Councilor Asst. Minority Floor Leader (SGD.) HON. RAMON L. ENCARNACION Councilor (SGD.) HON. KRISTIAN ROME T. SY Councilor (SGD.) HON. JENNIFER P. PINGREE Councilor (SGD.) HON. NIA SHIELA B. LOPEZ Councilor (SGD.) HON. JOSEPH WILLIAM D. LEE Councilor (SGD.) HON. LOUIE P. NOLASCO Councilor (SGD.) HON. WALTER MAGNUM D. DELA CRUZ Councilor (SGD.) HON. CHIQUI MARIE N. CARREON Councilor (SGD.) HON. BIENVENIDO S. BARTOLOME, JR. Councilor (President, League of Barangays) (SGD.) HON. EXEQUIEL D.J. SERRANO Councilor (President, Sangguniang Kabataan Federation) ATTESTED: (SGD.) ANTONIO R. ESPIRITU Secretary to the Sanggunian CERTIFIED CORRECT: (SGD.) HON. LORENA NATIVIDAD-BORJA City Vice Mayor Presiding Officer APPROVED: (SGD.) HON. REXLON T. GATCHALIAN City Mayor Date Signed: November 4, 2019