Section 5Sec./Art. 5

Entitlement Under Estate Tax Amnesty. - Except for instances covered by Section 9 hereof, the estate may enjoy the immunities and privileges of the Estate Tax Amnesty and pay an estate amnesty tax at the rate of six percent (6%) based on the decedents total net estate at the time of death: Provided, That if an estate tax return was previously filed with the Bureau of Internal Revenue, the estate tax rate of six percent (6%) shall be based on net undeclared estate.

The provisions of the National Internal Revenue Code of 1997, as amended, or the applicable estate tax laws prevailing at the time of death of the decedent, on valuation, manner of computation, and other related matters shall apply suppletorily, at the time of the entitlement: Provided, further, That if the allowable deductions applicable at the time of death of the decedent exceed the value of the gross estate, the heirs, executors, or administrators may avail of the benefits of tax amnesty under Title II of this Act, and pay the minimum estate amnesty tax of Five thousand pesos (₱5,000).