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:

“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 he filed under Presidential
Decree No. 23, as amended, shall be ten percent (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.”

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.

By the President:

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