EXECUTIVE ORDER NO. 95 - FURTHER AMENDING EXECUTIVE ORDER NO. 41, AS AMENDED

WHEREAS, with the expanded scope of the tax amnesty under Executive Order No. 64, the Government has received numerous requests from various sectors of society for further extension of the period within which to avail themselves of the benefits under the expanded tax amnesty;  

WHEREAS, equity and justice require that those who have availed themselves of Executive Order No. 41, as amended, thus far should not be unduly prejudiced or penalized for having responded to the Government’s offer seasonably;

NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Philippines, do hereby order:

Section 1. The period within which taxpayers may avail themselves of the expanded tax amnesty under Executive Order No. 41, as amended, is hereby extended up to January 31, 1987.

Sec. 2. The payment of the amnesty tax under this amendatory Executive Order shall be as follows:

(a) If P50,000.00 or less, the tax must be paid at the time of the filing of the return;

(b) If more than P50,000.00, the tax may be paid in two equal installments: the first upon the filing of the return; and second, on or before January 31, 1987.