Amending P.D. No. 174 (s. 1973) Re: Extension for Filing of Amnesty Tax Returns

June 2, 1973

PRESIDENTIAL DECREE NO. 201

AMENDING PRESIDENTIAL DECREE NO. 174, DATED APRIL 12, 1973, BY EXTENDING THE PERIOD FOR THE FILING OF AMNESTY TAX RETURNS TO JULY 31, 1973, AS REGARDS FILIPINOS RESIDING ABROAD

WHEREAS, there is yet a considerable number of Filipinos residing abroad who are still unaware or uninformed of Presidential Decree No. 23, as amended, granting tax amnesty on untaxed income and/or wealth;

WHEREAS, many of such Filipinos may wish to avail of such amnesty once information and explanation on the Decree is relayed to them which undertaking, however, requires adequate time because of limitations imposed by a meager personnel and by the geographical distances of areas to be covered in the continents of North America, Europe, Africa, and other places where these Filipinos reside; and

WHEREAS, the period given to such Filipinos residing abroad within which to avail of such amnesty ends on May 31, 1973;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested 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, do hereby decree that Paragraphs 1 and 2 of Presidential Decree No. 174, dated April 12, 1973, are hereby amended to read as follows: cd i

"1. That persons who may wish to avail of the amnesty pursuant to Presidential Decree No. 23, as amended, may be allowed to file their amnesty tax returns provided that such filing be done on or before July 31, 1973;

"2. That the tax to be collected on the return to be filed under Presidential Decree No. 23, as amended, shall be ten per cent (10%) of the declared untaxed income and/or wealth, which shall be computed in accordance with Revenue Regulations No. 4-73, dated April 25, 1973, and shall be payable at the time of filing the return." acd

This Decree shall take effect immediately.

DONE in the City of Manila, this 2nd day of June, in the year of Our Lord, Nineteen Hundred and Seventy-Three.