Bill Type
Long Title
AN ACT AMENDING SUBSECTIONS 86(A)(4) AND (6) OF REPUBLIC ACT NO. 8424, AS AMENDED, OTHERWISE KNOWN AS THE NATIONAL INTERNAL REVENUE CODE OF 1997
Congress Author
Date filed
February 5, 2008
Scope

Legislative History

House Bill/Resolution NO. HB03507
FULL TITLE : AN ACT AMENDING SUBSECTIONS 86(A)(4) AND (6) OF REPUBLIC ACT NO. 8424, AS AMENDED, OTHERWISE KNOWN AS THE NATIONAL INTERNAL REVENUE CODE OF 1997
ABSTRACT : The bill proposes to increase the maximum allowable deductible medical expenses in the computation of the net estate for the payment of the estate tax from P500,000 to P1 million. It also seeks to postpone the inclusion of the family home in the computation of the gross estate until after the death of the surviving spouse.
PRINCIPAL AUTHOR/S : COSCOLLUELA, MA. CARISSA O.
DATE FILED : 2008-02-05
SIGNIFICANCE: NATIONAL
CO-AUTHORS :
1. Velarde 2. Tieng
ACTIONS TAKEN BY THE COMMITTEE ON RULES
REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2008-02-18

Abstract

The bill proposes to increase the maximum allowable deductible medical expenses in the computation of the net estate for the payment of the estate tax from P500,000 to P1 million. It also seeks to postpone the inclusion of the family home in the computation of the gross estate until after the death of the surviving spouse.

Disclaimer

Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.