MALACAÑANG
M a n i l aPRESIDENTIAL DECREE No. 174 April 12, 1973
PROVIDING FOR THE FILING OF AMNESTY TAX RETURNS UNDER PRESIDENTIAL DECREE NO. 23, AS AMENDED, BEYOND APRIL 2, 1973, UNDER CERTAIN CONDITIONS
WHEREAS, although there has been a heavy turnout of filers of amnesty tax returns under Presidential Decree No. 23, as amended, there is still a big number of persons who have not been able to avail themselves of the amnesty due to the following reasons:
a. The impossibility of availing oneself of the amnesty due to fortuitous events such as unstable peace and order conditions in certain areas, especially in the provinces of Zamboanga del Norte, Zamboanga del Sur, Lanao del Norte, Lanao del Sur, North Cotabato, South Cotabato and Isabela, and in the cities of Basilan, Zamboanga, Pagadian, Dipolog, Cotabato, General Santos, Iligan and Marawi.
b. The inability of Filipinos residing abroad to avail themselves of the amnesty due to reasons and causes beyond their control.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of...
Details
Amends
n/a
Amended by
n/a
Presidential Decrees
Providing For The Filing Of Amnesty Tax Returns Under Presidential Decree No. 23, As Amended, BeyondApril 2, 1973, Under Certain Conditions
Presidential Decree No. 174
Summary of Presidential Decree No. 174
Extension of Amnesty Tax Return Filing Period
- Allows persons who failed to file amnesty tax returns under Presidential Decree No. 23 due to certain reasons to file until May 31, 1973. (Section 1)
- Reasons for failure to file:
a. Unstable peace and order conditions in certain areas like Zamboanga del Norte, Zamboanga del Sur, Lanao del Norte, Lanao del Sur, North Cotabato, South Cotabato, Isabela, Basilan, Zamboanga, Pagadian, Dipolog, Cotabato, General Santos, Iligan, and Marawi. (Preamble)
b. Filipinos residing abroad unable to file due to reasons beyond their control. (Preamble)
Tax Rate and Payment
- Tax rate is 10% of declared untaxed income and/or wealth. (Section 2)
- Tax payable at the time of filing the return. (Section 2)
- If tax amount exceeds P10,000, installment payment allowed per schedule in Presidential Decree No. 161, but first installment must be paid upon filing, not later than May 31, 1973. (Section 2)
Availing Amnesty under Presidential Decree No. 157
- Taxpayer who filed 1972 return can avail amnesty by filing amnesty tax return with a copy of 1972 return or amended 1972 return. (Section 3)
- Taxpayer who did not file 1972 return can avail amnesty by filing amnesty tax return and 1972 return simultaneously. (Section 3)
Implementation
- Secretary of Finance to issue necessary rules and regulations upon recommendation of Commissioner of Internal Revenue. (Section 4)
Effectivity
- Decree takes effect immediately. (Section 5)
Extension of Amnesty Tax Return Filing Period
- Allows persons who failed to file amnesty tax returns under Presidential Decree No. 23 due to certain reasons to file until May 31, 1973. (Section 1)
- Reasons for failure to file:
a. Unstable peace and order conditions in certain areas like Zamboanga del Norte, Zamboanga del Sur, Lanao del Norte, Lanao del Sur, North Cotabato, South Cotabato, Isabela, Basilan, Zamboanga, Pagadian, Dipolog, Cotabato, General Santos, Iligan, and Marawi. (Preamble)
b. Filipinos residing abroad unable to file due to reasons beyond their control. (Preamble)
Tax Rate and Payment
- Tax rate is 10% of declared untaxed income and/or wealth. (Section 2)
- Tax payable at the time of filing the return. (Section 2)
- If tax amount exceeds P10,000, installment payment allowed per schedule in Presidential Decree No. 161, but first installment must be paid upon filing, not later than May 31, 1973. (Section 2)
Availing Amnesty under Presidential Decree No. 157
- Taxpayer who filed 1972 return can avail amnesty by filing amnesty tax return with a copy of 1972 return or amended 1972 return. (Section 3)
- Taxpayer who did not file 1972 return can avail amnesty by filing amnesty tax return and 1972 return simultaneously. (Section 3)
Implementation
- Secretary of Finance to issue necessary rules and regulations upon recommendation of Commissioner of Internal Revenue. (Section 4)
Effectivity
- Decree takes effect immediately. (Section 5)