WHEREAS,
there were many taxpayers who were not able to file the amnesty return
and pay the tax due thereon under Presidential Decree No. 631 on the
last day for filing and payment on the tax inasmuch as the last day
fell on the date immediately following the National Referendum and the
long holiday period; chanroblesvirtualawlibrary
WHEREAS, the proximity of the last day for paying the amnesty tax
almost coincides with the deadlines for paying income tax for 1974, as
well as with other payments of other governmental fees during the first
quarter of 1975 which may upset the financial plans of taxpayers,
thereby making it difficult for them to comply promptly with the
various requirements of their obligations to the government within the
short interval of time;chanroblesvirtualawlibrary
WHEREAS, there are many Filipinos residing abroad who may want to avail
of the benefits provided for by Presidential Decree No. 631 which
grants ultimate tax amnesty but were unable to do so due to lack of
adequate information;chanroblesvirtualawlibrary
WHEREAS, in view of the short time from the date of issuance of the
decree to the last day for filing not all those who may want to avail
of the amnesty were informed.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution do hereby
decree and order: chanroblesvirtualawlibrary
Section 1. That Section 3 of Presidential Decree No.
631 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 March 31, 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.
"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 purpose be less than the difference between the
total value of assets as adjusted and the value of assets per original
statement."
Section 2. That Section 5 of Presidential Decree No.
631 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
March 31, 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
March 31, 1975 and the second installment on or before May 31,
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 March 31, 1975;chanroblesvirtualawlibrary
(ii) The second installment shall be paid on or
before May 31, 1975; and
(iii) The third installment shall be paid on or
before August 31, 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 for the payment of the tax
in equal installments but the first installment must be paid at the
time of filing of the return but not later than March 31, 1975 and
provided that extended period of payment by installments does not
exceed two years from the date the last installment is originally due;chanroblesvirtualawlibrary
5) In cases 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.
(b) For non-resident citizens and non-resident aliens
having property in the Philippines:cralaw:red
1) If the amount due does not exceed P5,000 the tax
must be paid at the time of the filing of the return but not later than
June 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
June 30, 1975 and the second installment on or before September 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 June 30, 1975;chanroblesvirtualawlibrary
(ii) The second installment shall be paid on or
before September 30, 1975; and
(iii) The third installment shall be paid on or
before December 31, 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 for the payment of tax in
equal installments but the first installment may be paid at the time of
filing of the return but not later than June 30, 1975 and provided that
the extended period of payment by installments does not exceed two
years from the date the last installment is originally due.
5) In cases 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
(c) If any installment is not paid on the due date
thereof, there shall be collected as part of the tax interests upon
such unpaid amount at the rate of 14% per annum from the due date of
the installment to the date of payment, which must be made not later
than three (3) months from the due date of such installment, otherwise,
the entire amount including all unpaid installments shall automatically
become due on such date, the failure to pay the same within thirty (30)
days shall render the amnesty granted herein null and void.
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 3rd day of March, in the year of Our Lord, nineteen hundred and
seventy-five.
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