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PRESIDENTIAL DECREE NO. 785
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PRESIDENTIAL DECREE NO. 785
- AMENDING Section SEVENTY-THREE OF THE NATIONAL INTERNAL REVENUE
CODE, AS AMENDED, BY PRESCRIBING AN INCREASED PENALTY ON
FILERS OF FALSE OR FRAUDULENT INCOME TAX RETURNS
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WHEREAS,
one of the objectives of the proclamation of martial law is for
the Government to institute much needed reforms in the existing
tax structure in order to promote the social and economic
well-being of our people; chanroblesvirtualawlibrary
WHEREAS, in order to insure the success of said reforms it is
imperative that our taxpayers be imbued with a profound sense of
discipline and awareness of the penal consequences of any
infraction committed by them against our internal revenue laws,
particularly acts of tax evasion which undermined the economic
stability of the nation;chanroblesvirtualawlibrary
WHEREAS, it has been found that the penalty prescribed under
exiting laws for tax evasion, specifically that embodied in the
second paragraph of Section 73 of the National Internal Revenue
Code which penalizes the filing of false and fraudulent returns
with intent to evade payment of the correct income tax, is
disproportionate to the gravity of the offense, such that its
efficacy as a penal sanction has now become practically nil.
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 the amendment of the
National Internal Revenue Code as follows:cralaw:red
Section 1. Section 73 of the National Internal
Revenue Code is hereby amended to read as follows:cralaw:red
"Sec. 73. Penalty for failure to file return or
to pay tax. — Any one liable to pay the tax, to make a return or
to supply information required under this Code, who refuses or
neglects to pay such tax, to make such return or to supply such
information at the time or times herein specified in each year,
shall be punished by a fine of not more than two thousand
pesos or by imprisonment for not more than six months, or both.
"Any individual or any officer of any corporation, or general
co-partnership (compania colectiva), required by law to make,
render, sign, or verify any return or to supply any information,
who makes any false or fraudulent return or statement with
intent to defeat or evade the assessment required by this Code to
be made, shall be punished by a fine of not less than Five
Thousand Pesos and imprisonment of not less than two years."
Section 2. All laws, decrees, executive orders
rules and regulations inconsistent with this Decree are
hereby repealed and/or modified accordingly.
Section 3. This Decree shall take effect
immediately.
Done in the City of Manila,
this 29th of August, in the year of Our Lord, nineteen hundred
and seventy- five.
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