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Marcos faces scrutiny over late father estate tax and alleged wealth
Philippines anti-graft agency PCGG said it recovered 309.8 billion pesos, about US$5.1 billion, as ill-gotten wealth linked to the Marcos family as of June 30.
Philippine President Ferdinand Marcos Jr has placed anti-corruption efforts at the center of his presidency, but critics have raised questions about estate taxes tied to his late father and the family’s past wealth, the South China Morning Post reports.
According to the Presidential Commission on Good Government, it recovered 309.84 billion pesos, or US$5.05 billion, as of June 30, describing the amount as ill-gotten wealth linked to the Marcos family.
The PCGG, created in 1986 as a special agency under the Office of the President, has been tasked over the decades with recovering assets it said were stolen by Marcos Sr, his wife Imelda Marcos, and their associates.
Marcos Jr was also asked whether he had paid more than 203 billion pesos, about US$3.28 billion, in estate taxes on the estate his father left after his death in 1989, and he pushed back on the idea that the family assets should be treated as ill-gotten, SCMP added.