EXECUTIVE ORDER NO. 64
EXECUTIVE ORDER NO. 64 -
FURTHER AMENDING EXECUTIVE ORDER NO. 41, AS AMENDED
WHEREAS,
the numerous request from the various sectors of society for the
expansions of the scope of the tax amnesty under Executive Order No.
41, as amended, and for further extension thereof, must be
needed;
WHEREAS, taxpayers who have responded seasonably to the government’s
offer under Executive Order No. 41, as amended, should not be
prejudiced or penalized;
NOW THEREFORE, I, CORAZON C. AQUINO, President of the Philippines, do
hereby order:
Section 1. The Title of Executive Order No. 41, as
amended, is hereby amended to read as follows:
“DECLARING
A ONE-TIME TAX AMNESTY COVERING INCOME TAXES, ESTATE AND DONOR’S TAXES
UNDER TITLE III, AND THE TAX ON BUSINESS UNDER CHAPTER II, TITLE V, OF
THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED, FOR THE YEARS
1981-1985”
Sec. 2. The scope and coverage of Executive Order
No. 41, as amended, is hereby expanded to include not only income taxes
but also estate and donor’s taxes under Title III and the tax on
business under Chapter II, Title V, of the National Internal Revenue
Code, as amended, for the year 1981-1985.
Sec. 3. The immunities and privileges provided
under Sec. 6 of Executive Order No. 41, as amended, for the time
period of January 1, 1981 to December 31, 1985 is hereby extended to
the tax liabilities provided in Sec. 2 hereof.
Sec. 4. The period within taxpayers may avail
themselves of the tax amnesty under Executive Order No. 41, as amended,
the expanded tax amnesty under this amendatory Executive Order shall be
until December 15, 1986; Provided, That any taxpayers who has filed an
amnesty return under the provisions of Executive Orders No. 41 and 54
can avail himself of the benefits, immunities and privileges under this
amendatory Executive Order by filing an amended return and paying an
additional 5% on the increase in net worth to cover business, estate
and donor’s tax liabilities; Provided, Further, That such additional
amnesty tax payment shall not be less than FOUR THOUSAND PESOS
(P4,000.00) for individuals and NINE THOUSAND PESOS (P9,000.00) for
corporations.
Sec. 5. Taxpayers who have not filed an amnesty
return under Executive Order Nos. 41 and 54, can avail themselves of
the benefits, immunities and privileges under this amendatory Executive
Order by filing the required amnesty return and statement of assets,
liabilities and net worth, and paying an amnesty tax of 15% on the
increase in the net worth as defined in Executive Order No. 41;
Provided, That such amnesty tax payment shall not be less that NINE
THOUSAND PESOS (P9,000.00) for individuals and NINETEEN THOUSAND PESOS
(P19,000.00) for corporations.
Sec. 6. The payment of the amnesty tax under this
amendatory Executive Order shall be as follows:
a.
If P50,000 or less, the tax must be paid at the time of the filing of
the return.
b. If more
than P50,000 but not exceeding P500,000 payment may be made in two
equal installments, the first upon filing of the return and the second
on or before December 31, 1986.
c. If more
than P500,000, the tax may be paid in three equal installments, the
first upon the filing of the return, the second on or before December
31, 1986 and the third on or before January 31, 1987.
Sec. 7. The surcharge and refund provisions of
Executive Order No. 41 shall remain in force.
Sec. 8. The provisions of Executive Orders Nos. 41
and 54 which are not contrary to or inconsistent with this amendatory
Executive Order shall remain in full force and effect.
Sec. 9. The Minister of Finance, upon the
recommendation of the Commissioner of Internal Revenue, shall
promulgate the necessary rules and regulations to implement this
Executive Order.
Sec. 10. This Executive Order shall take effect
immediately.
Done in the City of Manila,
this 17th day of November in the year of our Lord, nineteen hundred and
eighty-six.
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