Amends
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Executive Orders

Amending Executive Order No. 41

Executive Order No. 54

EXECUTIVE ORDER NO. 54 November 4, 1986

AMENDING EXECUTIVE ORDER NO. 41

WHEREAS, the Government has received many requests from various sectors of our society for an extension of the time to avail themselves of Executive Order No. 41;

WHEREAS, equity and justice require that those who have availed themselves of Executive Order No. 41 thus far should not unduly prejudiced or penalized for having responded to the Government' offer seasonably;

NOW, THEREFORE I, CORAZON C. AQUINO, President of the Philippines, do hereby order:

Sec. 1. The period within which taxpayers may avail themselves of the tax amnesty under Executive Order No. 41 is hereby extended up to December 5, 1986.

Sec. 2. The payment of the amnesty tax under this amendatory Executive Order shall be as follows:

(a) If P50,000.00 or less, the tax must be paid at the time of the filing of the return;

(b) If more than P50,000.00 but not exceeding P500,000.00, the tax must be paid on or before November 15, 1986;...

Summary of Executive Order No. 54 Amending Executive Order No. 41

Extension of Tax Amnesty Period
- The period to avail of the tax amnesty under Executive Order No. 41 is extended until December 5, 1986. (Section 1)

Payment of Amnesty Tax
- If the amnesty tax is ₱50,000 or less, it must be paid at the time of filing the return. (Section 2a)
- If the amnesty tax is more than ₱50,000 but not exceeding ₱500,000, it must be paid on or before November 15, 1986. (Section 2b)
- If the amnesty tax is more than ₱500,000, it can be paid in two installments: the first upon filing the return, and the second on or before December 31, 1986. (Section 2c)
- If the amnesty tax or any installment is not paid on the due date, a 25% surcharge will be collected. (Section 2)
- The unpaid tax, installment, and surcharge must be paid within one month from the due date, otherwise, the application for tax amnesty will be denied. (Section 2)
- No case under this order shall result in a refund. (Section 2)

Existing Taxpayers under Executive Order No. 41
- Taxpayers who have availed themselves of the tax amnesty under Executive Order No. 41 prior to this amendatory order shall continue to enjoy the benefits, immunities, and privileges provided therein. (Section 3)

Consistency with Executive Order No. 41
- The provisions of Executive Order No. 41 that are not contrary to or inconsistent with this amendatory order shall remain in full force and effect. (Section 4)

Implementation
- The Minister of Finance, upon the recommendation of the Commissioner of Internal Revenue, shall promulgate the necessary rules and regulations to implement this Executive Order. (Section 5)

Effectivity
- This Executive Order shall take effect immediately. (Section 6)

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