Republic Acts1 min read
Section 3Sec./Art. 3
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What to Declare in the SALN. The SALN shall contain a declaration of the assets, liabilities and networth as of December 31, 2005, as follows:
1. Assets within or without the Philippines, whether real or personal, tangible or intangible, whether or not used in trade or business: Provided, That property other than money shall be valued at the cost at which the property was acquired: Provided, further, That foreign currency assets and/or securities shall be valued at the rate of exchange prevailing as of the date of the SALN;
2. All existing liabilities which are legitimate and enforceable, secured or unsecured, whether or not incurred in trade or business; and
3. The networth of the taxpayer, which shall be the difference between the total assets and total liabilities.
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