Reduction in Estate and Donor’s Tax to 6% Gains Traction in Lower House

The reduction of estate and donor’s tax from as much as 20% to a standard rate of 6% gained traction in the House of Representatives. The estate tax bill was approved in second reading (bill requires three readings), while the donor’s tax bill has been endorsed at the committee level. The Department of Finance both moves, as these would entice more people to declare the properties they sell or inherit and pay taxes on them, thus earning…

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