WHEREAS,
the amnesty granted under Presidential Decree No. 631, as amended, is
the ultimate and final amnesty on untaxed income and/or wealth and,
therefore, deserves serious and utmost consideration by all concerned;
and chanroblesvirtualawlibrary
WHEREAS, the government, consistent with its policy persuasion and
conciliation, desires to afford all taxpayers concerned the fullest
opportunity possible to answer this last call for reformation and
change in attitude and sense of values by voluntarily disclosing all
untaxed income and/or wealth for the year 1973 and prior years.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution, de hereby
decree and order:cralaw:red
Section 1. Section 3 of Presidential Decree No. 631,
as amended is hereby amended to read as follows:cralaw:red
"Sec. 3. In the case of resident Filipino citizens
and aliens the tax amnesty return shall be filed in the prescribed BIR
form with the Office of the Commissioner of Internal Revenue, Regional
Director or Revenue District Officer on or before April 30, 1975,
showing the amount of untaxed income and/or wealth for 1973 and prior
years; and in the case of Filipino citizens residing abroad and
non-resident aliens having properties located in the Philippines, the
tax amnesty return shall be filed with the Office of the Commissioner
of Internal Revenue or with the nearest Philippine Embassy or consulate
abroad on or before June 30, 1975. chanroblesvirtualawlibrary
"Together with the tax amnesty return, an amended statement of assets,
liabilities and net worth which shall include the untaxed income and/or
wealth correspondingly indicated in the particular kind of asset(s)
should be filed. In no case shall the untaxed income or wealth
disclosed for amnesty purposes be less than the difference between the
total value of assets as adjusted and the value of assets per original
statement."
Section 2. Subsection (a) of Section 5 of
Presidential Decree No. 631, as amended, is hereby amended to read as
follows:cralaw:red
"Sec. 5. The amnesty tax imposed herein shall be paid
as follows:cralaw:red
(a) Resident citizens and aliens:cralaw:red
1) If the amount due does not exceed P5,000 the tax
must be paid at the time of filing of the return but not later than
April 30, 1975;chanroblesvirtualawlibrary
2) If the amount due exceeds P5,000 but is not more
than P50,000, the tax may be paid in two equal installments, the first
installment to be paid upon the filing of the return but not later than
April 30, 1975 and the second installment on or before June 30, 1975;chanroblesvirtualawlibrary
3) If the amount due exceeds P50,000 the tax may be
paid in three equal installments, to wit:cralaw:red
(i) The first installment shall be paid upon the
filing of the return but not later than April 30, 1975;chanroblesvirtualawlibrary
(ii) The second installment shall be paid on or
before June 30, 1975;chanroblesvirtualawlibrary
(iii) The third installment shall be paid on or
before September 30, 1975.
4) In highly meritorious cases and where the amount
due exceeds P300,000 but does not exceed P500,000 the Commissioner of
Internal Revenue may grant extension of time of the payment of the tax
in equal installments but the first installment must be paid at the
time of the filing of the return but not later than April 30, 1975 and
provided that extended period of payment by installment does not exceed
two years from the date the last installment is originally due;chanroblesvirtualawlibrary
5) In case where the amount exceeds P500,000 the
extended period of payment by installments should not exceed three
years from the date the last installment is originally due." chanroblesvirtualawlibrary
Section 3. All laws, rules, and regulations which
are inconsistent herewith are hereby repealed, modified and/or amended
accordingly.
Section 4. This Decree shall take effect immediately.
DONE in the City of Manila,
this 31st day of March, in the year of Our Lord, nineteen hundred and
seventy-five.
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