AN
ACT TO EXTEND THE PERIOD FOR FILING OF RETURNS AND THE PAYMENT OF TAXES
UNDER COMMONWEALTH ACT NUMBERED FOUR HUNDRED AND SIXTY-SIX, OTHERWISE
KNOWN
AS THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED, AND OTHER LAWS
ADMINISTERED
BY THE BUREAU OF INTERNAL REVENUE, AND FOR OTHER PURPOSES.
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chan robles virtual law library
Section
1. The period for the making,
rendering and filing of notices, returns, statements or reports of
gross
sales, receipts, earnings, gross value of output, value of real
property,
income, premiums, or resources of banks required under Commonwealth Act
Numbered Four hundred and sixty-six, otherwise known as the National
Internal
Revenue Code, as amended, and any laws administered by the Bureau of
Internal
Revenue, which had become due on or after December eight, nineteen
hundred
forty-one but not later than August thirty-first, nineteen hundred
forty-five,
is extended until December thirty-first, nineteen hundred forty-five,
and
no penalty of any kind shall be collected on such notices, returns,
statements
or reports if filed on or before December thirty-first, nineteen
hundred
forty-five: Provided, however, That the extension herein granted shall
not apply to returns, statements, or reports of gross sales, receipts,
earnings, gross value of output for any tax period of the calendar year
nineteen hundred forty-five subject to the percentage taxes under Title
V of the Code.
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Sec.
2. The period for the payment
of taxes, fees, and charges levied or imposed under the National
Internal
Revenue Code, as amended, and any other laws administered by the Bureau
of Internal Revenue, which had become due and payable on or after
December
eight, nineteen hundred forty-one, but not later than August
thirty-first,
nineteen hundred forty-five, is extended until the last day of
February,
nineteen hundred forty-six, and no penalty of any kind shall be added
to
such taxes, fees, and charges if paid on or before the last day of
February,
nineteen hundred forty-six: Provided, however, That the extension
herein
granted shall not apply to the percentage taxes under Title V of the
Code
for any tax period of the calendar year nineteen hundred forty -five.
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Sec.
3. The interest, if any,
provided for the late payment of taxes in the National Internal Revenue
Code, as amended, or in any other laws administered by the Bureau of
Internal
Revenue, shall not be collected for the period from December eight,
nineteen
hundred forty-one, to the last day of February, nineteen hundred
forty-six,
inclusive, on unpaid taxes which had accrued and become payable before
December eight, nineteen hundred forty-one.
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Sec.
4. The running of the period
of limitation or prescription provided in sections three hundred
thirty-one
and three hundred thirty-two of the National Internal Revenue Code, as
amended and in Act Numbered Three thousand three hundred twenty-six, as
amended, shall be suspended for the period from December eight,
nineteen
hundred forty-one, to the last day of February, nineteen hundred
forty-six,
inclusive.
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Sec.
5. This Act shall take
effect upon its approval.
