Section 3
SEC. 3. What to Declare in the SALN. � The SALN shall contain a declaration of the assets, liabilities and networth as of December 31, 2005, as follows: Assets within or without the Philippines, whether real or personal, tangible or intangible, whether or not used in trade or business: Provided, That property other than money shall be valued at the cost at which the property was acquired: Provided, further, That foreign currency assets and/or securities shall be valued at the rate of exchange prevailing as of the date of the SALN; All existing liabilities which are legitimate and enforceable, secured or unsecured, whether or not incurred in trade or business; and The networth of the taxpayer, which shall be the difference between the total assets and total liabilities.