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PRESIDENTIAL DECREE NO. 30
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PRESIDENTIAL DECREE NO. 30 -
AMENDING THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED, BY ADDING
ANOTHER SUPPLEMENT, TO BE KNOWN AS "SUPPLEMENT B" TO TITLE II (INCOME
TAX), BY PLACING CORPORATIONS ON A TAX WITHHOLDING SYSTEM
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WHEREAS, there is a need to ensure the
continuous and even flow of revenue collection in order to provide
ready financing for essential Government operations and projects;chanroblesvirtualawlibrary
WHEREAS, in order to achieve that desired end it is necessary to
introduce a new system of income tax payment on a quarterly basis that
is both advantageous to the Government and the taxpayer; and
WHEREAS, there were pending before Congress before the promulgation of
Proclamation No. 1081, dated September 21, 1972, a bill on the subject,
entitled "AN ACT AMENDING THE NATIONAL REVENUE CODE, AS AMENDED, BY
ADDING ANOTHER SUPPLEMENT, TO BE KNOWN AS 'SUPPLEMENT B,' TO TITLE II
(INCOME TAX), BY PLACING CORPORATIONS ON A TAX WITHHOLDING SYSTEM." and
denominated as H. No. 5480:cralaw:red
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution as
Commander-in-Chief of all the Armed Forces of the Philippines, and
pursuant to Proclamation No. 1081 dated September 21, 1972, and General
Orders No. 1 dated September 22, 1973, as amended, do hereby decree
that H. No. 5480 is hereby adopted, approved and made as part of the
law of the land. chanroblesvirtualawlibrary
This decree shall take effect immediately.
Done in the City of Manila,
this 27th of October, in the year of Our Lord, nineteen hundred and
seventy-two.
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