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 of the tax
inasmuch as the last day fell on the date immediately following the
National Referendum and the long holiday period;
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;
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.
WHEREAS, in view of the short time from the date of issuance
of the decree to the last clay 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 in me vested by the Constitution do
hereby decree and order:
SECTION 1. That Section 3 of Presidential Decree No. 631 is
hereby amended to read as follows:
"SECTION 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 networth 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 pin noses be less than the difference between the
total value of assets as adjusted and the value of assets per original
statement."
SEC. 2. That Section 5 of Presidential Decree No. 631 is
hereby amended to read as follows:
"SECTION 5. The amnesty tax imposed herein shall lie paid
as follows:
Resident citizens and aliens:
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;
If the amount due exceeds P5,000 but is not more than
P50,000, the tax maybe 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;
If the amount due exceeds P50,000 the tax maybe paid in
three equal installments, to wit:
The first installment shall be paid upon the filing of
the return but not later than March 31, 1975;
The second installment shall be paid on or before May 31,
1975; and
The third installment shall be paid on or before August
31, 1975.
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;
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.
For non-resident citizens and non-resident aliens having
property in the Philippines:—
If the amount due does not exceeds P5,000 the tax must be
paid at the time of filing of the return but not later than June 30,
1975;
If the amount due exceeds P5,000 but is not more than
P50,000, the tax maybe 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.
If the amount due exceeds P50,000 the tax maybe paid
in three equal installments, to wit:
The first installment shall be paid upon the filing
of the return but not later than June 30, 1975;
The second installment shall be paid on or before
September 30, 1975; and
The third installment shall be paid on or before December
31, 1975.
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 maybe 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.
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.
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 upaid installments shall automatically become due
on such date, and failure to pay the same within thirty (30) days shall
render the amnesty granted herein null and void.
SEC. 3. All laws, rules and regulations which are
inconsistent herewith are hereby repealed, modified and/or amended
accordingly.
SEC. 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.
(Sgd.)
FERDINAND E. MARCOS
President
Republic of the Philippines
By the President:
(Sgd.)
ALEJANDRO MELCHOR
Executive Secretary
