Philippines’ Marcos slammed over US$3b family estate tax, says ‘very busy’ with government
Philippine President Ferdinand Marcos Jnr has put his anti-corruption drive at the centre of his presidency, but questions over his late father’s estate taxes and the family’s past ill-gotten wealth have prompted critics to question his commitment. Last month, Marcos pledged in his address to Congress to continue fighting alleged irregularities in flood-control projects, stressing that the…
President Ferdinand Marcos Jr. has been focusing on fighting alleged irregularities in flood-control projects and combating corruption, but his commitment to these causes has been questioned due to controversies surrounding his late father's estate and the family's alleged ill-gotten wealth. The Presidential Commission on Good Government has recovered $5.05 billion in ill-gotten wealth linked to the Marcos family, which originated from assets stolen by former President Ferdinand Marcos Sr., his wife Imelda Marcos and their associates.
When asked whether he had paid more than $3.28 billion in estate taxes on his late father's estate, Marcos replied that the family assets should not be considered ill-gotten wealth, citing the outcome of civil forfeiture cases they won. Marcos admitted to having neglected some of his duties as co-executor of the estate because he has been "very busy" with the responsibilities of being president.
He insisted that issues of state and governance are of "a thousand times more importance" than any family matters and left the resolution of these matters to his lawyers.
Political science professor Jean Franco criticized Marcos' remarks, stating that discussing the estate tax issue is of significant public interest and cannot be ignored without politicizing the matter. The August 21 Movement, a pro-democracy group formed after the assassination of opposition leader Benigno "Ninoy" Aquino Jr., accused Marcos of attempting to distort Philippine history by not addressing the estate tax issue.
Another unresolved case, involving an offshore entity called Arelma tied to a US case to recover Marcos' assets, is also pending and is currently under dispute between human rights victims, the Philippine government and the Marcos estate.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
