Dollar accounts not exempted from SALN disclosure, says Palace aide

MANILA, Philippines—An aide to President Benigno Aquino III said Friday a government official’s dollar accounts are not exempted from the requirement to declare his or her assets in his statement of assets, liabilities and net worth.

Abigail Valte, one of President Aquino’s spokespersons, made the statement in the wake of suggestions that Chief Justice Renato Corona might use the law on the confidentiality of foreign currency deposits to justify his non-declaration of his dollar accounts in his SALN.

“They are assets; they are no different from peso deposits. If you put them on parallel with each other, there is also the bank secrecy act that governs the disclosure of peso deposits,” Valte said at Friday’s regular news briefing at malacañang.

“The SALN law does not distinguish between deposits in local currency nor in foreign currency. It just says it should be included in assets, all assets,” she added.