AMENDING CERTAIN SECTIONS OF PRESIDENTIAL DECREE NO. 379 BY ENLARGING THE COVERAGE OF THE SAME

• Number: Presidential Decree No. 417
• Sections: 10

Preamble

WHEREAS, there is a need for a more accurate compilation of

statistical data for the establishment of the data bank envisioned in

Presidential Decree No. 379; and

WHEREAS, while the Government stands firm and resolute on

the immunities guaranteed under Presidential Decree Nos. 23, 157, 213

and 370, it, nevertheless, requires a truthful declaration of assets,

liabilities and net worth under Presidential Decree No. 379;

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

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

do hereby decree and order:

Section 1

SECTION 1. That Section 1 of Presidential Decree No. 379 is

hereby amended to read as follows:

"SECTION 1. Who Must File. — Any provision of

existing laws to the contrary notwithstanding, all persons, whether

natural or juridical, having gross assets of P50,000 or more, as of

December 31, 1973, regardless of the net worth, shall file a statement

of assets, liabilities and net worth as of the said date.

"The statement of assets and liabilities to be filed by public

officers under this Decree shall be considered sufficient compliance

with the requirements of Republic Act 3019 insofar as the statement of

assets, liabilities and net worth as of December 31, 1973 required to be

filed on or before January 31, 1974 is concerned: Provided,

That the public officer shall furnish the head of his office two signed

carbon copies of such statement in the same manner as required by

Republic Act 3019: Provided, further, That the subsequent

statements required to be filed by public officers under Section 7 of

Republic Act 3019 shall be governed by the provisions of said law: Provided,

still further, That a new appointee to a public office or an

employee retiring, resigning, or separated from the service on or before

September 30, 1974 shall file the statement required by Section 7 of

Republic Act 3019: And provided, finally, That public officers

shall file the statement required by this Decree regardless of the

amount of their gross assets."

Section 2

SEC. 2. That Section 2 of Presidential Decree No. 379 is

hereby amended to read as follows:

"SEC. 2. When and Where to File. — The statement

of assets, liabilities and net worth in the form prescribed shall be

filed on or before September 30, 1974 with the Commissioner of Internal

Revenue, Regional Director, Revenue District Officer, Collection Agent

or the Municipal Treasurer who has been designated as collection officer

of the Bureau of Internal Revenue, where the taxpayer has his/its place

of business or his/its legal residence. If there is no office or place

of business in the Philippines or if there be no legal residence, the

statement must be filed with the Commissioner of Internal Revenue in

Manila."

Section 3

SEC. 3. That Section 3 of Presidential Decree No. 379 is

hereby amended to read as follows:

"SEC. 3. Exemptions from Filing. — The following

are not required to file:

An individual whose total gross

assets is less than fifty thousand pesos (P50,000), except public

officers who are required to Tile the statement irrespective of the

total value of gross assets;

Diplomatic or consular representatives and officers of

foreign governments;

Members of the Armed Forces of the United States

Government in the active service who are stationed in the Philippines;

and

Officials and officers, who are not citizens of the

Philippines, of multinational corporations or of agencies of the United

Nations or foreign or international regional organizations established

in the Philippines."

Section 4

SEC. 4. That Section 5 of Presidential Decree No. 379 is

hereby amended to read as follows:

"SEC. 5. Contents of Statement. — The statement

shall contain all the assets of the person, whether real or personal,

and whether used in business or not. It shall also include those assets

declared and included under Presidential Decree Nos. 23, 52, 53, 157,

213 and 370.

"The liabilities shall include all known debts, which are

legitimate and enforceable obligations, whether secured or unsecured,

and whether incurred or not in trade or business."

Section 5

SEC. 5. That Section 6 of Presidential Decree No. 379 is

hereby amended to read as follows:

"SEC. 6. Valuation. —

"(a) Assets. —

"(1) Real Properties. — In the case of real properties,

the cost of acquisition shall be considered for the purpose of

computing the gross assets and net worth. However, the statement shall

also include the value of such assets contained in the statement filed

under Presidential Decree No. 76.

"(2) Personal Properties. — In the case of personal properties,

the cost of acquisition must be the amount reported in the statement; if

used in trade or business, the depreciated value as of December 31,

1973 shall be included in the statement.

"(3) Properties Acquired by Gratuitous Title. — In the case of

property, whether real or personal, acquired by gratuitous title, the

cost thereof shall be deemed to be the fair market value at the time of

such acquisition or the value on which the transfer taxes due on the

transmission of the property were computed and paid.

"(b) Liabilities. — Only legitimate and enforceable

obligations reducible in sums of money and existing as of December 31,

1973 shall be included in the statement."

Section 6

SEC. 6. That Section 7 of Presidential Decree No. 379 is

hereby revoked.

Section 7

SEC. 7. That Section 8 of Presidential Decree No. 379

is hereby amended to read as follows:

"SEC. 8. Unlawful Divulgence of Information. — (a)

No information in the statement herein required shall be published

except in the form of tabulations and summaries having no reference to

the person.

"(b) It shall be unlawful for any officer or employee of the

Bureau of Internal Revenue or any government entity having knowledge of

such declaration of assets, liabilities and net worth to disclose to any

person any information relative to such declaration and any violation

hereof shall subject such offender to a fine in the amount of not less

that five thousand pesos or imprisonment for not less than two years, or

both, and shall be summarily dismissed from the service for cause."

Section 8

SEC. 8. All laws, rules and regulations which are

inconsistent herewith are hereby repealed, modified and/or amended

accordingly.

Section 9

SEC. 9. This Decree shall take effect immediately.

Done in the City of Manila, this 19th day of March, in the

year of Our Lord, nineteen hundred and seventy-four.

(Sgd.) FERDINAND E.

MARCOS

President

Republic of the Philippines

By the President:

(Sgd.) ALEJANDRO

MELCHOR

Executive Secretary