AMENDING SECTION 45(c) OF THE NATIONAL INTERNAL REVENUE CODE BY PRESCRIBING A SEPARATE DATE FOR THE FILING OF INCOME TAX RETURNS OF INDIVIDUALS WHOSE INCOMES ARE FIXED IN NATURE

• Number: Presidential Decree No. 371
• Sections: 4

Preamble

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;

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;

WHEREAS, of the individual tax filers, more than fifty

percent 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 date

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 for the filing of income tax returns and prevent undue

inconvenience to taxpayers;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the

Philippines, by virtue of the powers in me vested by the Constitution as

Commander-in-Chief of all the 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:

Section 1

SECTION 1. Section 45(c) of the National Internal Revenue

Code, as amended, is hereby further amended to read as follows:

"(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:

(A) Residents of the Philippines, whether citizens or aliens,

whose income have been derived solely from salaries, wages, interests,

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 nonresident citizens, shall be filed on or before the

fifteenth day of April of each year covering income of the preceding

taxable year."

Section 2

SEC. 2. The Secretary of Finance, upon the recommendation

of the Commissioner of Internal Revenue, shall promulgate the

implementing regulations on this amendment.

Section 3

SEC. 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.

(Sgd.) FERDINAND E. MARCOS

President

Republic of the Philippines

By the President:

(Sgd.) ROBERTO V. REYES

Assistant Executive Secretary

In connection with the enactment of Presidential Decree No. 371

which changed the deadline for the filing of income tax returns, the

President of the Philippines issued Proclamation No. 1239, dated

February 20, 1974, declaring the month of March of every year as "Tax

Consciousness Month," and the Bureau of Internal Revenue issued Revenue

Regulations No. 1-74, dated January 11, 1974, entitled: "Dates of Filing

of Individual Income Tax Returns."