President-elect Bongbong Marcos declared that they have spent some P623 million for the entire duration of the May 9 elections.
Marcos filed his Statement of Contributions and Expenditures (SOCE) with the Commission on Elections (Comelec), stating a total of P623,230,176.68 worth of total expenditures. The document was submitted by his legal counsel.
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“No person elected to any public offices shall enter upon the duties of his office until he has filed the statement of contributions and expenditures herein required,” the law stated.
The Statement of Contributions and Expenditures, otherwise called “SOCE,” is the itemized statement of all contributions and expenditures in connection with the election.
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This is the final requirement of the poll body from winning and losing candidates. This must be filed by the candidate or the treasurer of their political party.
Under the existing election laws, every candidate ane treasurer of the political party are required to submit SOCE within 30 days after the election day.
