A
collection of Philippine laws, statutes and codes
not
included or cited in the main
indices
of
the
Chan Robles Virtual Law Library
PRESIDENTIAL DECREE NO. 25
PRESIDENTIAL DECREE NO. 25 -
REQUIRING ALL PERSONS, NATURAL OR JURIDICAL, OWNING OR ADMINISTERING
REAL PROPERTY, INCLUDING THE IMPROVEMENTS THEREON, TO FILE SWORN
STATEMENT OF THE TRUE VALUE OF SUCH PROPERTY
|
chanroblesvirtualawlibrary
I, FERDINAND E. MARCOS, President of the
Philippines, pursuant to the powers vested in me by the Constitution as
Commander-in-Chief of all the Armed Forces of the Philippines, and in
accordance with Proclamation No. 1081, dated September 21, 1972, and
General Order No. 1, dated September 22, 1972, and knowing —chanroblesvirtualawlibrary
THAT, values of real property and improvements therein are usually
under declared obviously for the purpose of evading payment of higher
and correct taxes due the government:cralaw:red
THAT, although real property and the improvements therein are
undervalued for purpose of taxation, these real property are sold to
the government when needed for public purposes, such as the
construction of roads and other infrastructure, at their market value
which are usually ten (10) to twenty (20) times more than the value
declared by the owners for purposes of taxation; and — in order to
effect the desired changes and reforms in the social, economic and
political structure of the country, which is the main objective of the
New Society; — I hereby decree and order that:cralaw:red
1. All persons owning or administering real property,
including the improvements therein, shall file with the respective
Provincial or City Assessors not later than January 31, 1973, a Sworn
Statement declaring the true value of their property.
This Sworn Statement when approved by the Provincial or City Assessor
concerned, shall be the basis not only for the payment of real property
tax beginning with the year 1973 but also of the just compensation to
be paid to owners or administrators of land and other real property
expropriated or appropriated by the government for public purpose or
purposes.
2. From the decisions of Provincial or City Boards of
Tax Appeals, an appeal may be taken by the owner or by the Provincial
or City Assessor to a Central Board of Tax Appeals, composed of the
Secretary of Finance, as chairman, and the Secretary of Justice, and
the Secretary of Local Governments and Community Development, as
members, whose decision shall be final. Said Central Board of Tax
Appeals shall promulgate rules and regulations governing the procedure
in such appeals. chanroblesvirtualawlibrary
3. The true value of the land and the improvements
therein shall be the value for taxation plus the market value divided
by two.
4. Any one who shall knowingly make a false
declaration concerning any property or who shall fail to make statement
as required in section one of this Decree, shall, upon conviction, pay
a fine of not less than one hundred nor more than ten thousand pesos.
If the offense is committed by a corporation, the manager or person in
charge of the management of the business of the corporation shall be
responsible therefor.
5. The Secretary of Finance is hereby ordered to
cause the preparation of the necessary forms, in sufficient number,
needed for this purpose and to formulate the implementing details to be
followed by all Provincial and City Assessors for the immediate and
successful implementation of this Decree.
This Decree shall form part of the laws of the land and shall take
effect immediately after its publication.
Done in the City of Manila,
this 20th day of October, in the year of Our Lord, nineteen hundred and
seventy-two.
|
chanroblesvirtuallawlibrary
Back
to Home
- Back
to Main
chanroblesvirtuallawlibrary
Since 19.07.98
|