What is Statement of Assets, Liabilities and Networth (SALN) Form?
Statement of Assets, Liabilities and Networth (SALN) Form is literally the a document, that states your assets, liabilities and net worth. Statement of Assets, Liabilities and Networth (SALN) Form is also the document, that discloses your financial connections and/or business interests. This form also identifies the relatives within the fourth degree of consanguinity or affinity.
What is the Purpose of Statement of Assets, Liabilities and Networth (SALN) Form?
The main purpose of the Statement of Assets, Liabilities and Networth (SALN) Form is to accumulate all public officers and employees of your business organisation with the aim of declaring submitting annual, verified, completely true precise and detailed sworn statement of their common and individual assets and liabilities, and net worth. Statement of Assets, Liabilities and Networth (SALN) Form also includes the necessity to disclose all the business interests and financial connections. Also the Statement of Assets, Liabilities and Networth (SALN) Form exist to declare if there’s any relatives in the government service among all public officers and employees of your business organisation.
When is Statement of Assets, Liabilities and Networth (SALN) Form Due?
The the Statement of Assets, Liabilities and Networth (SALN) Form should be filed first off all within thirty days after assumption of office. Secondly, it should be filed before April 30 of every year, or before April 30. Also the Statement of Assets, Liabilities and Networth (SALN) Form is bound to filed within thirty workdays after separation from the service.
Is Statement of Assets, Liabilities and Networth (SALN) Form Accompanied by Other Documents?
According to the Republic Act No. 6713 also known as the Code of Conduct and Ethical Standards for Public Officials and Employees currently prescribed the SALN form is made user friendly to be exceptionally easy to fill up. There is a portion of the SALN form that is purposed for government employees to indicate whether they are filing the form jointly or separately. The form clarifies that the Assessed Value and the Current Fair Market Value should be based on what is stated in the Tax Declaration of Real Property. Several portions of the previous form have been removed like the amount and sources of gross income, amount of personal and family expenses and amount of income taxes paid, all of which were required to be declared under RA No. 3019 (Anti-Graft Corrupt Practices Act).
What Information do I Provide in Statement of Assets, Liabilities and Networth (SALN) Form?
First of all the applicants who are both public officials and employees and husband and wife can file the form both jointly or separately. You can just tick an appropriate box. After that every applicant should state his/her Name, Position, Family Name, First Name, Agency, Address, Office address, Spouses info, Children, if there’s any, Names, Date of birth and Age. Also every applicant should definitely state his or hers Assets, Liabilities and Networth, including those of the spouse and unmarried children below the age of 18 sharing the applicant's household. Assets include Real Properties description, exact location, assets value, current fair market value, Acquisition and Acquisition cost and subtotal.
