Amendment on Public Officers' Asset Reporting

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PRESIDENTIAL DECREE NO. 677: Amendment on Public Officers' Asset Reporting

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Title Supreme Court: Amendment on Public Officers' Asset Reporting

Law: Presidential Decree No. 677

Decision Date: Mar 31, 1975

Presidential Decree No. 677 requires all government officials and employees to regularly disclose their financial position by filing a detailed statement of assets and liabilities, aiming to promote transparency and accountability in the public sector.

presidential decree

government officials

A

Legal basis and amendment made

Presidential Decree No. 677 amends Section 7 of Republic Act No. 3019 on the Statement of assets and liabilities.
Republic Act No. 3019 is the Anti-Graft and Corrupt Practices Act, and Section 7 is the specific provision governing asset and liability reporting.

Policy and intent of asset reporting

The asset reporting system is part of a continuing government reform program and is grounded on the principle that the life of a public officer is an open book subject to scrutiny.
Public officers are required to account at frequent intervals for their financial position to ensure they are beyond suspicion and reproach.

Mandatory statement: who must file

Every public officer must prepare and file a true detailed and sworn statement of assets and liabilities.
The statement must include a statement of the amounts and sources of income.
The statement must include the amounts of personal and family expenses.
The statement must include the amount of income taxes paid for the next preceding calendar year.

When statements must be filed

Every public officer must file the statement within thirty days after assuming office.
Every public officer must file the statement within the month of January of every year thereafter.
Every public officer must file the statement upon the expiration of the term of office.
Every public officer must file the statement upon resignation or separation from office.

Where statements must be filed

Public officers shall file with the office of the corresponding Department Head.
If the public officer is a Head of Department or Chief of an independent office, the statement is filed with the Office of the President.

Timing for first filing when assuming late

Public officers assuming office less than two months before the end of the calendar year may file the first statement in the following month of January.

END