AMENDING CERTAIN SECTIONS OF PRESIDENTIAL DECREE NO. 379 BY ENLARGING THE COVERAGE OF THE SAME

WHEREAS, there is a need for a more accurate compilation of
statistical data for the establishment of the data bank envisioned in
Presidential Decree No. 379; and

WHEREAS, while the Government stands firm and resolute on
the immunities guaranteed under Presidential Decree Nos. 23, 157, 213
and 370, it, nevertheless, requires a truthful declaration of assets,
liabilities and net worth under Presidential Decree No. 379;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the powers in me vested by the Constitution,
do hereby decree and order:

SECTION 1. That Section 1 of Presidential Decree No. 379 is
hereby amended to read as follows:

“SECTION 1. Who Must File. — Any provision of
existing laws to the contrary notwithstanding, all persons, whether
natural or juridical, having gross assets of P50,000 or more, as of
December 31, 1973, regardless of the net worth, shall file a statement
of assets, liabilities and net worth as of the said date.

“The statement of assets and liabilities to be filed by public
officers under this Decree shall be considered sufficient compliance
with the requirements of Republic Act 3019 insofar as the statement of
assets, liabilities and net worth as of December 31, 1973 required to be
filed on or before January 31, 1974 is concerned: Provided,
That the public officer shall furnish the head of his office two signed
carbon copies of such statement in the same manner as required by
Republic Act 3019: Provided, further, That the subsequent
statements required to be filed by public officers under Section 7 of
Republic Act 3019 shall be governed by the provisions of said law: Provided,
still further, That a new appointee to a public office or an
employee retiring, resigning, or separated from the service on or before
September 30, 1974 shall file the statement required by Section 7 of
Republic Act 3019: And provided, finally, That public officers
shall file the statement required by this Decree regardless of the
amount of their gross assets.”

SEC. 2. That Section 2 of Presidential Decree No. 379 is
hereby amended to read as follows:

“SEC. 2. When and Where to File. — The statement
of assets, liabilities and net worth in the form prescribed shall be
filed on or before September 30, 1974 with the Commissioner of Internal
Revenue, Regional Director, Revenue District Officer, Collection Agent
or the Municipal Treasurer who has been designated as collection officer
of the Bureau of Internal Revenue, where the taxpayer has his/its place
of business or his/its legal residence. If there is no office or place
of business in the Philippines or if there be no legal residence, the
statement must be filed with the Commissioner of Internal Revenue in
Manila.”

SEC. 3. That Section 3 of Presidential Decree No. 379 is
hereby amended to read as follows:

“SEC. 3. Exemptions from Filing. — The following
are not required to file:

1. An individual whose total gross
   assets is less than fifty thousand pesos (P50,000), except public
   officers who are required to Tile the statement irrespective of the
   total value of gross assets;
2. Diplomatic or consular representatives and officers of
   foreign governments;
3. Members of the Armed Forces of the United States
   Government in the active service who are stationed in the Philippines;
   and
4. Officials and officers, who are not citizens of the
   Philippines, of multinational corporations or of agencies of the United
   Nations or foreign or international regional organizations established
   in the Philippines.”

SEC. 4. That Section 5 of Presidential Decree No. 379 is
hereby amended to read as follows:

“SEC. 5. Contents of Statement. — The statement
shall contain all the assets of the person, whether real or personal,
and whether used in business or not. It shall also include those assets
declared and included under Presidential Decree Nos. 23, 52, 53, 157,
213 and 370.

“The liabilities shall include all known debts, which are
legitimate and enforceable obligations, whether secured or unsecured,
and whether incurred or not in trade or business.”

SEC. 5. That Section 6 of Presidential Decree No. 379 is
hereby amended to read as follows:

“SEC. 6. Valuation. —

“(a) Assets. —

“(1) Real Properties. — In the case of real properties,
the cost of acquisition shall be considered for the purpose of
computing the gross assets and net worth. However, the statement shall
also include the value of such assets contained in the statement filed
under Presidential Decree No. 76.
“(2) Personal Properties. — In the case of personal properties,
the cost of acquisition must be the amount reported in the statement; if
used in trade or business, the depreciated value as of December 31,
1973 shall be included in the statement.
“(3) Properties Acquired by Gratuitous Title. — In the case of
property, whether real or personal, acquired by gratuitous title, the
cost thereof shall be deemed to be the fair market value at the time of
such acquisition or the value on which the transfer taxes due on the
transmission of the property were computed and paid.

“(b) Liabilities. — Only legitimate and enforceable
obligations reducible in sums of money and existing as of December 31,
1973 shall be included in the statement.”

SEC. 6. That Section 7 of Presidential Decree No. 379 is
hereby revoked.

SEC. 7. That Section 8 of Presidential Decree No. 379
is hereby amended to read as follows:

“SEC. 8. Unlawful Divulgence of Information. — (a)
No information in the statement herein required shall be published
except in the form of tabulations and summaries having no reference to
the person.

“(b) It shall be unlawful for any officer or employee of the
Bureau of Internal Revenue or any government entity having knowledge of
such declaration of assets, liabilities and net worth to disclose to any
person any information relative to such declaration and any violation
hereof shall subject such offender to a fine in the amount of not less
that five thousand pesos or imprisonment for not less than two years, or
both, and shall be summarily dismissed from the service for cause.”

SEC. 8. All laws, rules and regulations which are
inconsistent herewith are hereby repealed, modified and/or amended
accordingly.

SEC. 9. This Decree shall take effect immediately.

Done in the City of Manila, this 19th day of March, in the
year of Our Lord, nineteen hundred and seventy-four.