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PHILIPPINE LAWS, STATUTES & CODES
A collection of Philippine laws, statutes and codes not included or cited in the main indices of the Chan Robles Virtual Law Library.
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Section 1. It shall be the duty of the manager or person in charge of any sweepstake, lottery or other similar scheme for the distribution of prizes, authorized to be conducted by the National Government or by any subdivision, agency or instrumentality thereof, before paying the prizes, to deduct from the said prizes such sums as will be sufficient to cover the amount of income tax due from each prize winner, and to pay the amount so deducted to the Collector of Internal Revenue or his deputies within thirty days from the date the amount of the tax has been determined, and the said manager or person in charge is hereby made personally liable for such tax in case he fails to make the deduction and payment herein required to be made. The amount of income tax to be deducted, as herein provided, shall be determined after consultation with the Collector of Internal Revenue. Section 2. Section 3. Section 4. |
Since 19.07.98.