PRESIDENTIAL DECREE NO. 112, January 29, 1973

[ PRESIDENTIAL DECREE NO. 112, January 29, 1973 ]

AMENDING PRESIDENTIAL DECREE NO; 52, DATED NOVEMBER 16, 1972 PROCLAIMING A TAX AMNESTY FOR UNTAXED MOTOR VEHICLES SUBJECT TO CERTAIN CONDITIONS, BY EXTENDING THE EFFECTIVITY OF THE TAX AMNESTY UP TO JANUARY 31, 1973

WHEREAS , Presidential Decree No. 52, dated November 16, 1972 grants a fifty percent (50%) and a seventy percent (70%) across the board deduction on the duties and taxes collectible by the government on vehicles transferred from tax-exempt persons/entities to non-tax-exempt persons/entities, or such vehicles where the correct taxes and duties have not been collected;

WHEREAS , it is possible that there is insufficient public awareness of this particular amnesty or that many of the present owners/possessors of these untaxed motor vehicles have not yet been able to raise the needed money for the purpose; and

WHEREAS , to render more effective the objectives of said Presidential Decree No. 52, dated November 16, 1972 and to give all those concerned the opportunity to take advantage of the tax amnesty granted therein;

NOW, THEREFORE, I, FERDINAND E. MARCOS , President of the Republic 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, whereby I have assumed direction of the operation of the entire Government do hereby decree:

That No. 3 of Presidential Decree No. 52 is hereby amended to read as follows:

"3. The tax amnesty shall be effective up to January 31, 1973."

All laws, rules and regulations which are inconsistent herewith are amended or modified accordingly.

This Decree shall take effect immediately.

Done in the City of Manila, this 29th day of January, in the year of Our Lord, nineteen hundred and seventy-three.

(Sgd.) FERDINAND E. MARCOS

President

Republic of the Philippines

By the President:

(Sgd.) ALEJANDRO MELCHOR

Executive Secretary