Question & AnswerQ&A (PRESIDENTIAL DECREE NO. 1288)
The main purpose of Presidential Decree No. 1288 is to amend Section 7 of Republic Act No. 3019 by extending the deadline for public officers to submit their yearly statement of assets and liabilities, thus making it more practical for those with complex income sources or data obtained from various offices.
Every public officer is required to submit a Statement of Assets and Liabilities as provided by PD No. 1288.
A public officer must submit the Statement within thirty days after assuming office.
The deadline for filing the annual Statement of Assets and Liabilities is on or before the fifteenth day of April following the close of every calendar year.
The statement must be filed with the office of the corresponding Department Head or, if the filer is a Head of Department or Chief of an independent office, with the Office of the President.
The statement must include a true, detailed, and sworn account of the public officer's assets and liabilities, amounts and sources of income, personal and family expenses, and the amount of income taxes paid for the preceding calendar year.
Yes, if a public officer assumes office less than two months before the end of the calendar year, they may file their first statement on or before the fifteenth day of April following the close of that calendar year.
The provisions took effect starting with the statement of assets and liabilities for the calendar year 1977.
A public officer must file the statement upon expiration of their term, upon resignation, or separation from office.
The amendment was necessary because the original one-month period was too short for public officers to properly prepare and submit their statements, especially for those with diversified income sources or relying on data from other offices.