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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 42 -
PROCLAIMING A ONE-TIME REAL PROPERTY TAX AMNESTY SUBJECT TO CERTAIN
CONDITIONS
WHEREAS, there is a substantial
amount of revenue in the form of delinquent real property taxes due and
collectible by the government;
WHEREAS, the grant of tax amnesty to certain delinquent real property
taxpayers would not only encourage settlement of the unpaid real
property taxes but also accelerate the collection thereof;
WHEREAS, to ensure that henceforth real property tax laws would be
complied with strictly, no further real property tax amnesty shall be
granted.
NOW, THEREFORE, I CORAZON C. AQUINO, President of the Philippines, do
hereby order:
Section 1.
(a)
(b)
(c)
Fifty per centum (50%) of the accumulated delinquent real property taxes, and the entire amount of penalties as of December 31, 1985 shall be condoned. Subject to such rules and regulations as may be promulgated by the Minister of Finance. The amount due under this amnesty may be paid in installments. Should any installment not be paid on its due date, the total unpaid balance of the delinquent real property and the entire amount of penalties shall become automatically due and demandable and shall be enforced in accordance with law.
Sec. 2.
(a)
(b)
(c)
No public auction of delinquent
real properties shall be held during the period of this amnesty.
Sec. 3.
Sec. 4.
Sec. 5.
Sec. 6.
Sec. 7.
Sec. 8.
Done in the City of Manila,
this 22nd day of August, in the year of Our Lord, nineteen hundred and
eighty-six.
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