Preamble
WHEREAS, consistent with its policy of persuasion and conciliation aimed at promoting national solidarity and cooperation, the government has launched a tax amnesty program whose main thrust has been to achieve reformation and change in the attitude and sense of values of errant taxpayers, instead of taking punitive action against them; WHEREAS, to place the tax amnesty program in its proper perspective, the government is willing to give to all taxpayers concerned to make a true and faithful disclosure of their untaxed income and/or wealth for 1973 and prior years and opportunity to adjust their statements of assets, liabilities, and net worth, thereby earning the full benefits and immunities of tax amnesty; and WHEREAS, the government, in requiring truthful disclosure of untaxed income as a token of reformation, is likewise willing to grant immunity from investigation of the statement of assets, liabilities, and net worth filed under Presidential Decree No. 379, as amended, by taxpayers who avail of tax amnesty for 1973 and prior years. NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution, do hereby order and decree an ultimate and final tax amnesty on untaxed income and/or wealth, as follows: