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PRESIDENTIAL DECREE NO. 1355
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PRESIDENTIAL DECREE NO. 1355
- AMENDING Section 24(b) (2) OF THE NATIONAL INTERNAL REVENUE CODE TO
PROVIDE A STATUTORY DEFINITION OF THE TERM "GROSS PHILIPPINE BILLINGS."
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WHEREAS,
the open skies policy in the operations of internationalrline companies
in the Philippines has proliferated chartered flights to and from the
country;chanroblesvirtualawlibrary
WHEREAS, internationalrline companies with scheduled flights to the
Philippines are taxed on their incoming and outgoing business arising
from passage documents sold in the country;chanroblesvirtualawlibrary
WHEREAS, fares of chartered flights are not subject to any income tax
under existing internal revenue laws and regulations;chanroblesvirtualawlibrary
WHEREAS, there is a need to equalize the income tax burden and promote
healthy competition among the internationalrline companies;chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution, do hereby
decree:cralaw:red
Section 1. Section 24 (b) (2) of the National
Internal Revenue Code is hereby amended by adding a definition of the
term "gross Philippine billings" as follows: chanroblesvirtualawlibrary
".. "Gross Philippine billings" includes gross revenue realized from
uplifts anywhere in the world by any international carrier doing
business in the Philippines of passage documents sold therein, whether
for passenger, excess baggage or mail, provided the cargo or mail
originates from the Philippines. The gross revenue realized from the
said cargo or mail shall include the gross freight charge up to final
destination. Gross revenues from chartered flights originating from the
Philippines shall likewise from part of "gross Philippine billings"
regardless of the place of sale or payment of the passage documents.
For purposes of determining the taxability of revenues from chartered
flights, the term "originating from the Philippines" shall include
flight of passengers who stay in the Philippines for more than
forty-eight (48) hours prior to embarkation."
Section 2. This Decree shall take effect upon
approval.
Done in the City of Manila,
this 21st day of April, in the year of Our Lord, nineteen hundred and
seventy-eight.
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