Condonation Of Delinquent Tax Accounts And Tax Amnesty On Contested Assessments Subject To Certain Conditions
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Condonation Of Delinquent Tax Accounts And Tax Amnesty On Contested Assessments Subject To Certain Conditions
Presidential Decree No. 68
November 24, 1972
Case Overview and Summary
Summary of Presidential Decree No. 68Condonation of Delinquent Tax Accounts and Tax Amnesty on Contested Assessments Subject to Certain Conditions
• Condonation of Unpaid Delinquent Tax Accounts (Section 1):
- All unpaid delinquent tax accounts amounting to ₱100 or less as of the effectivity of this Decree are condoned.
• Reduction of Delinquent Tax Accounts Exceeding ₱100 (Section 2):
- Delinquent tax accounts exceeding ₱100, including unlisted and/or current tax accounts resulting from assessments and/or letters of demand issued as of the date of this Decree, and/or accounts protested and/or contested with pending resolution in the Bureau of Internal Revenue and/or courts, shall be reduced:
-- By 40% if paid in full on or before January 31, 1973. (Section 2a)
-- By 20% if paid in full on or before February 28, 1973. (Section 2b)
- For accounts exceeding ₱300,000, the taxpayer may pay in two equal installments:
-- First installment on or before the dates under Sections 2a and 2b.
-- Second installment not later than May 15, 1973. (Section 2)
- If the second installment is not paid by May 15, 1973, the first installment shall be applied to the original delinquent account. (Section 2)
- If the taxpayer does not avail of the concession under Sections 2a and 2b, the delinquent tax account shall be collected by court action or summary proceedings. (Section 2)
• Suspension of Proceedings on Contested Tax Accounts (Section 3):
- Proceedings on tax accounts resulting from assessments and/or letters of demand issued as of the date of this Decree, and/or accounts protested and/or contested with pending resolution in the Bureau of Internal Revenue and/or courts, shall be suspended up to February 28, 1973, to allow taxpayers to avail of the concession granted. (Section 3)
• Exemption from Civil, Criminal, or Administrative Liability (Section 4):
- After full settlement of the accounts mentioned herein, the taxpayer shall be free of any civil, criminal, or administrative liability insofar as their tax case is involved. (Section 4)
• Implementation and Promulgation of Rules and Regulations (Section 5):
- The Secretary of Finance, upon the recommendation of the Commissioner of Internal Revenue, shall promulgate rules and regulations to implement this Decree. (Section 5)
• Effectivity (Section 6):
- This Decree shall take effect immediately. (Section 6)
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Condonation Of Delinquent Tax Accounts And Tax Amnesty On Contested Assessments Subject To Certain Conditions
Presidential Decree No. 68
•November 24, 1972
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 68 November 24, 1972
CONDONATION OF DELINQUENT TAX ACCOUNTS AND TAX AMNESTY ON CONTESTED ASSESSMENTS SUBJECT TO CERTAIN CONDITIONS
WHEREAS, it is the declared policy of the Government to afford taxpayers with delinquent accounts and pending contested tax cases a final opportunity to settle their tax obligations consistent with the concept of reforms under the New Society.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, by virtue of the powers vested in me by the Constitution as Commander-in-Chief of all the Armed Forces of the Philippines, and pursuant to Proclamation No. 1081, dated September 21, 1972, and General Order No. 1, dated September 22, 1972, as amended, whereby I have assumed direction of the operation of the entire Government, do hereby decree:
1. That all unpaid delinquent tax accounts, as of the effectivity of this Decree, amounting to One Hundred Pesos (P100.00) or less, are hereby condoned;
2. That in the case of all delinquent tax accounts which remain unpaid involving...
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Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Presidential Decrees
tax amnesty
delinquent tax accounts
tax assessments
tax settlements
tax concessions
tax reductions
tax penalties
tax liabilities
tax rules and regulations
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 68 November 24, 1972
CONDONATION OF DELINQUENT TAX ACCOUNTS AND TAX AMNESTY ON CONTESTED ASSESSMENTS SUBJECT TO CERTAIN CONDITIONS
WHEREAS, it is the declared policy of the Government to afford taxpayers with delinquent accounts and pending contested tax cases a final opportunity to settle their tax obligations consistent with the concept of reforms under the New Society.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, by virtue of the powers vested in me by the Constitution as Commander-in-Chief of all the Armed Forces of the Philippines, and pursuant to Proclamation No. 1081, dated September 21, 1972, and General Order No. 1, dated September 22, 1972, as amended, whereby I have assumed direction of the operation of the entire Government, do hereby decree:
1. That all unpaid delinquent tax accounts, as of the effectivity of this Decree, amounting to One Hundred Pesos (P100.00) or less, are hereby condoned;
2. That in the case of all delinquent tax accounts which remain unpaid involving...
Login to see full content