New DOF chief assures public of policy continuity

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December 28, 2025 | 12:00am

MANILA, Philippines — The new head of the Department of Finance (DOF) said policies established and pushed under the previous secretary would continue despite the recent leadership transition, as he remains fully aligned with the priorities and direction set by his predecessor.

Finance Secretary Frederick Go said the DOF harmonizes with the policy direction of former finance chief and now Executive Secretary Ralph Recto particularly on proposed tax measures.

“There is no change in policy from (former) Secretary Ralph Recto to me, to my term here at the DOF. Basically, we are aligned actually,” he said. “All these tax measures are really an act of Congress.”

One month into office, Go has backed a bill extending the estate tax amnesty until 2028, saying that the measure will enable more families to settle inherited property obligations and put idle assets to work, thereby enhancing broader economic productivity.

He told reporters that the primary goal of the measure is to unlock idle assets and release properties that remain tied up due to disputes, such as family disagreements or marital separations.

“They cannot settle the estate tax because our laws here are quite inflexible when it comes to that. So, giving a tax amnesty gives people more time to resolve those intra-family disputes. And it’s a lot,” Go said.

Key provisions of the bill, as outlined in the committee report, include requiring a minimum installment payment of at least 25 percent of the total amount due. The proposed law hopes to grant relief to heirs by waiving accumulated penalties, including those incurred during the pandemic.

When asked about the expected revenue from the bill, Go said the amount is insignificant, noting that the estate tax amnesty has been in effect for several years and that the focus is primarily on unlocking tied-up assets

Recto earlier said they were weighing the possibility of enacting a general tax amnesty and online gambling tax laws. The DOF has also previously backed the single-use plastic law, which is seen to generate about P58 billion in its first year of implementation.