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House exempts landowners from estate taxes on unpaid just compensation By Charlie V. Manalo 06/10/2012

Sunday, June 10, 2012

House exempts landowners from estate taxes on unpaid just compensation

By Charlie V. Manalo 06/10/2012

The House of Representatives has approved on third and final reading House Bill 6093, which sought to exempt from estate taxes the unpaid balance of just compensation due the original landowners or their descendants whose agricultural lands were acquired by the government under agrarian reform laws or orders.

House Bill 6093, principally authored by Cagayan de Oro Rep. Rufus Rodriguez seeks to exempt from said taxes the decedent owner (or his or her legal heirs or successors in interest) of agricultural land acquired by the government under Presidential Decree (PD) 27, Executive Order 22, EO 229, Republic Act 6657 and RA 9700, amending for the purpose Section 87 of the National Internal Revenue Code, 1997, as amended..... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/nation/20120610nat2.html

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