Information/Evidence Leading to the Discovery of Persons/Juridical entities who/which failed to File the Required Statement of Assets Liabilities and Networth; Disposition of Cases Relative Thereto

August 28, 1975 REVENUE MEMORANDUM ORDER NO. 49-75 SUBJECT : Information/Evidence Leading to the Discovery of Persons/Juridical entities who/which failed to File the Required Statement of Assets Liabilities and Networth; Disposition of Cases Relative Thereto TO : All Internal Revenue Officers Concerned 1. It has come to the attention of this Office that certain internal revenue officers have actual knowledge or are in possession of information/evidence concerning persons/juridical entities who/which failed or neglected to file the required Statement of Assets, Liabilities and Networth, pursuant to the provisions of Presidential Decree No. 379, in relation to Presidential Decree No. 631, but have not transmitted such information/evidence to this Office for appropriate action. 2. You are reminded that the President, in his Letter of Instruction No. 186, dated May 14, 1974, emphasized that; "The compilation of statistical data on the statement of assets, liabilities and networth required under Presidential Decree No. 379, as amended, is vital to the interests of the country for economic development. Any willful false declaration or deliberate failure to comply with any of the provisions of the said decree shall be dealt with severely". In furtherance, therefore, of the above Presidential directive, and as a matter of national policy of the Bureau, you are directed to submit to the undersigned, with the least practicable delay, all information/evidence, papers or records pertaining to persons/juridical entities who/which failed to file the required statement of assets, liabilities and networth. Finally, you are enjoined from imposing or accepting any compromise "penalty" or collecting any tax(es) or fees of whatever kind incident to the aforesaid violation. All such cases should be forwarded to this Office for final disposition. Strict adherence hereto is desired. MISAEL P. VERA Commissioner of Internal Revenue TAN 1601-593-5