The two-month annual asset declaration period will now begin in March according to a statement from the Anti-Corruption Commission (ACC). Earlier, the declaration started in February.
The ACC’s order stated: “It is being changed mainly to integrate the asset declaration system and the Revenue Administration Management System (RAMIS) seamlessly. From here on out, the AD will follow the tax filing period so that the system can fetch data from RAMIS after the declarant has filed the Personal Income Tax prior to the assets.”
According to the executive order, the revised time will come into effect starting March 1.
The order stated that the ACC is also in the process of enhancing its existing asset declaration system in preparation for the implementation of the revised timetable.