Letter of Instructions No. 200, Authorizing the Filing of Amended Tax Amnesty Returns Under Presidential Decree No. 370 and Extension of the Period of Payment in Installments of the Amnesty Tax Due Thereon and Previous Tax Amnesty Decrees

August 19, 1974 REVENUE MEMORANDUM CIRCULAR NO. 45-74 SUBJECT : Letter of Instructions No. 200, Authorizing the Filing of Amended Tax Amnesty Returns Under Presidential Decree No. 370 and Extension of the Period of Payment in Installments of the Amnesty Tax Due Thereon and Previous Tax Amnesty Decrees TO : All Internal Revenue Officers, Employees and others concerned For the information and proper guidance of all those concerned, there is quoted hereunder Letter of Instructions No. 200 of the President, as follows: "LETTER OF INSTRUCTIONS NO. 200 "To: The Commissioner of Internal Revenue "With a view to enabling taxpayers concerned to prepare accurately the statement of assets, liabilities and net worth required under Presidential Decree No. 379, as amended, to be submitted not later than September 30, 1974, and in order to ease the burden of paying the amnesty tax provided in Presidential Decree No. 370, you are hereby instructed: "1. To allow any person, natural or juridical, who has availed of the tax amnesty under Presidential Decree No. 370 but failed to include in his return all that were required to be declared therein to file an amended return covering such undeclared income and/or wealth and to pay the tax prescribed in the said Decree on or before September 30, 1974, in accordance with existing revenue rules and regulations or with paragraph 2 hereof; "2. To accept, upon representation of the person concerned, payment of the amnesty tax in installments beyond the period prescribed in the aforesaid and previous amnesty tax decrees where, upon your sound discretion and judgment, payment within the prescribed periods would cause undue hardships upon such person, and provided, further, that the extension of the period of payment in installments does not exceed two years from the date the last installment was originally due. "3. All the immunities and guarantees declared under Presidential Decree No. 370 shall extend to all those who shall file an amended return pursuant to this instructions. "DONE in the City of Manila, this 1st day of July, in the year of Our Lord, nineteen hundred and seventy-four. FERDINAND E. MARCOS President of the Philippines" To insure the proper and uniform implementation of Letter of Instructions No. 200 quoted above, the following guidelines should be observed by all those concerned: 1. Only persons who have already availed of the tax amnesty under Presidential Decree No. 370 but who failed to include in their returns all that were required to be declared therein shall be allowed to file an amended tax amnesty return under the said Decree. The filer should be required to submit with his amended return a xerox or photo copy of his tentative or original return filed. The file number assigned to the original or tentative return shall also be used in the amended return . 2. The time for filing the amended tax amnesty return is on or before September 30, 1974. 3. The tax on the reported increase of untaxed income and/or wealth shown in the amended return shall also be at 15%. From the tax computed based on the total untaxed income and/or wealth declared, the amount paid upon the filing of the tentative return on or before June 28, 1974 shall be deducted, and the balance shall be paid in accordance with the schedules of payment prescribed in Revenue Regulations No. 5-74 dated May 16, 1974 or that approved by the Commissioner of Internal Revenue pursuant to subject Letter of Instructions. 4. Since Presidential Decree No. 370 is merely an extension of Presidential Decree No. 23, and in line with the spirit and objectives of Letter of Instructions No. 200, persons who have already availed of the tax amnesty under Presidential Decree No. 23 and its amendatory decrees but failed to include in their returns all that were required to be declared therein, shall be allowed to file an amended tax amnesty return under the same procedure, terms and conditions as prescribed in items 1, 2 and 3 hereof, to enable them to prepare accurately their statements of assets, liabilities and net worth required under Presidential Decree No. 379, as amended. 5. Request for payment of the amnesty tax in installments in lesser amounts and/or beyond the periods prescribed in Revenue Regulations No. 5-74 shall be subject to the approval of the Commissioner of Internal Revenue. Accordingly, all such requests should be submitted to the Commissioner of Internal Revenue, Attn.: Chief, Tax Amnesty Implementation Office. The request should state the reason thereof and the proposed schedule of payments. All concerned are enjoined to observe the foregoing guidelines in the implementation of Letter of Instructions No. 200. MISAEL P. VERA Commissioner of Internal Revenue TAN-1601-593-5