Further Amending Executive Order No. 41, As Amended
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Further Amending Executive Order No. 41, As Amended
Executive Order No. 95
December 17, 1986
Case Overview and Summary
Summary of Executive Order No. 95Extension of Tax Amnesty Period
- The period for taxpayers to avail of the expanded tax amnesty under Executive Order No. 41, as amended, is extended until January 31, 1987. (Section 1)
Payment of Amnesty Tax
- If the amnesty tax is P50,000 or less, it must be paid in full at the time of filing the return. (Section 2a)
- If the amnesty tax is more than P50,000, it can be paid in two equal installments: the first upon filing the return, and the second on or before January 31, 1987. (Section 2b)
- If the amnesty tax or any installment is not paid on the due date, a surcharge of 25% of the unpaid amount 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)
Benefits for Previous Amnesty Applicants
- Taxpayers who availed themselves of the tax amnesty under Executive Order No. 41, as amended, prior to this order shall continue to enjoy the benefits, immunities, and privileges provided therein. (Section 3)
Consistency with Previous Orders
- The provisions of Executive Order No. 41, as amended, which are not contrary to or inconsistent with this 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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Further Amending Executive Order No. 41, As Amended
Executive Order No. 95
•December 17, 1986
EXECUTIVE ORDER NO. 95 December 17, 1986
FURTHER AMENDING EXECUTIVE ORDER NO. 41, AS AMENDED
WHEREAS, with the expanded scope of the tax amnesty under Executive Order No. 64, the Government has received numerous requests from various sectors of society for further extension of the period within which to avail themselves of the benefits under the expanded tax amnesty;
WHEREAS, equity and justice require that those who have availed themselves of Executive Order No. 41, as amended, thus far should not be unduly prejudiced or penalized for having responded to the Government's 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 expanded tax amnesty under Executive Order No. 41, as amended, is hereby extended up to January 31, 1987.
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...
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Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Executive Orders
tax amnesty
extension
payment
installments
surcharge
refund
benefits
immunities
privileges
implementation
rules and regulations
effectivity
EXECUTIVE ORDER NO. 95 December 17, 1986
FURTHER AMENDING EXECUTIVE ORDER NO. 41, AS AMENDED
WHEREAS, with the expanded scope of the tax amnesty under Executive Order No. 64, the Government has received numerous requests from various sectors of society for further extension of the period within which to avail themselves of the benefits under the expanded tax amnesty;
WHEREAS, equity and justice require that those who have availed themselves of Executive Order No. 41, as amended, thus far should not be unduly prejudiced or penalized for having responded to the Government's 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 expanded tax amnesty under Executive Order No. 41, as amended, is hereby extended up to January 31, 1987.
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...
Login to see full content