Preamble
WHEREAS, on account of the relatively complicated manner of computing the tax to be paid under Presidential Decree No. 1740, only a limited number of taxpayers have availed of the benefits of the said Decree despite the grant of immunity from investigation; WHEREAS, to maximize the availment of tax amnesty and invite the voluntary disclosure of untaxed income or wealth and encourage the investment of such funds in productive enterprises, there is a need to simplify the determination of the amnesty tax to be paid; and WHEREAS, it is the desire to afford full opportunity for individual taxpayers to come within the fold of the tax reforms and to provide them with a clean start for the adoption of the gross income taxation scheme. 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 that: