AMENDING PRESIDENTIAL DECREE NO. 30, DATED OCTOBER 27, 1972, ENTITLED “AMENDING THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED BY ADDING ANOTHER SUPPLEMENT, TO BE KNOWN AS ‘SUPP…

I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the powers vested in me by the Constitution as
Commander-in-Chief of 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, do hereby decree, order and make as
part of the law of the land the following measure:

SECTION 1. Article seven of H.B. No. 5480 adopted,
approved and made part of the law of the land by Presidential Decree No.
30, is hereby amended to read as follows:

“ART 7. Transitory Provisions. — For the
taxable year of 1972, the declaration of estimated net taxable income
shall be filed, and the tax due thereon shall be paid, [as follows: For
the first quarter, on or before the last day of the seventh month of the
taxable year; for the second quarter, on or before the last day of the
ninth month of the taxable year; and for the third quarter, on or before
the last day of the eleventh month of the taxable year; and the
adjustment and final return shall be filed, and the tax due thereon
paid, on or before April fifteen nineteen hundred seventy-three or on or
before the fifteenth day of the fourth month following the close of
fiscal year nineteen hundred and seventy-two] IN ACCORDANCE WITH
A SCHEDULE TO BE RECOMMENDED BY THE COMMISSIONER OF INTERNAL REVENUE
AND APPROVED BY THE SECRETARY OF FINANCE.

“The income tax due for taxable year nineteen hundred and
seventy-one which still remains unpaid at the time of the approval of
this Decree shall, notwithstanding the provisions in Section fifty-one
of this title, be payable in equal monthly installments starting on the
last day of the first month following the approval of this Decree; up to
December thirty-first, nineteen hundred and seventy-two [or up to the
last month of fiscal year nineteen hundred and seventy-two].”

SEC. 2. Presidential Decree No. 30, dated October
27, 1972, and regulations part thereof inconsistent herewith are hereby
revoked or amended accordingly.

Done in the City of Manila, this 15th day of November, in the year of
Our Lord, nineteen hundred and seventy-two.

			(Sgd.) FERDINAND E. MARCOS President Republic of the Philippines
	By the President:
	(Sgd.) ALEJANDRO MELCHOR
		Executive Secretary