WHEREAS,
income tax filers have tremendously increased in number to the extent
of three times the number of income tax filers before the proclamation
of martial law;chanroblesvirtualawlibrary
WHEREAS, with the influx of tax filers, extreme difficulty and
inconvenience will be encountered both by the government and the
taxpayers in the filing of income tax returns due to the fact that
there is only one fixed date for the filing of individual income tax
returns; chanroblesvirtualawlibrary
WHEREAS, of the individual tax filers, more than fifty per cent derive
income which is fixed in nature and, therefore, easy to determine at
the end of the calendar year; and
WHEREAS, it has become necessary to set aside another day for the
filing of income tax returns of individuals whose income are more or
less fixed in nature in order to reduce the work load on the last day
of the filing of income tax returns and prevent undue inconvenience to
taxpayers;chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution as
Commander-in-Chief of all Armed Forces of the Philippines, and pursuant
to Proclamation No. 1081, dated September 21, 1972, and General Order
No. 1, dated September 22, 1972, as amended, do hereby order and
decree: chanroblesvirtualawlibrary
Section 1. Section 45(c) of the National Internal
Revenue Code, as amended, is hereby further amended to read as follows:cralaw:red
"(c) When to file. — (1) The return of the following
individuals shall be filed on or before the fifteenth day of March of
each year, covering income of the preceding taxable year. chanroblesvirtualawlibrary
(A) Residents of the Philippines, whether citizens or
aliens, whose income have been derived solely from salaries, wages,
interest, dividends, allowances, commissions, bonuses, fees, pensions,
or any combination thereof; and
(B) Residents of the Philippines, whether citizens or
aliens, who have no income or whose income is below one thousand eight
hundred pesos or who did not have any transaction in any business
carried on for gain or profit during the preceding year, but are
nevertheless required to file an income tax return under paragraph No.
3, subsection (a) of this section.
2. The return of all other individuals not mentioned
above, including non-resident citizens shall be filed on or before the
fifteenth day of April of each year covering income of the preceding
taxable year.
Section 2. The Secretary of Finance upon the
recommendation of the Commissioner of Internal Revenue, shall
promulgate the implementing regulations on this amendment.
Section 3. This decree shall apply to income tax
returns required to be filed for the taxable year 1973.
Done in the City of Manila,
this 9th day of January, in the year of Our Lord, nineteen hundred and
seventy-four.
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