EXECUTIVE ORDER NO. 695 - EXTENDING THE DEADLINE FOR AVAILMENT OF TAX AMNESTY AND SUBMISSION OF STATEMENT OF ASSETS, LIABILITIES AND NETWORTH

WHEREAS, the Commissioner of Internal Revenue or his duly authorized representative has been prohibited under a memorandum dated May 21, 1981, from conducting an investigation of the amnesty tax returns filed under Presidential Decree No. 1740;

WHEREAS, due to the prohibition on investigation, it is anticipated that a greater number of taxpayers would avail of the tax amnesty; and

WHEREAS, it is imperative that the dealing for filing of the returns and statements be extended to accommodate the clamor of the taxpaying public for more time to enable them to accurately compute their income tax liabilities and corresponding networth.

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, do hereby extend the deadline for availment of tax amnesty and submission of statements of assets and liabilities from May 31, 1981 to August 31, 1981.

Done in the City of Manila, this 27th day of May, in the year of Our Lord, nineteen hundred and eighty-one.

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