ChanRobles Virtual law Library
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.
Republic Acts :
REPUBLIC ACTS
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REPUBLIC ACT NO. 7833 - AN ACT TO
EXCLUDE THE BENEFITS MANDATED PURSUANT TO REPUBLIC ACT NO. 6686 AND
PRESIDENTIAL DECREE NO. 851, AS AMENDED, AND OTHER BENEFITS FROM THE
COMPUTATION OF GROSS COMPENSATION INCOME FOR PURPOSES OF DETERMINING
TAXABLE COMPENSATION INCOME, AMENDING FOR THE PURPOSE Sec. 28(B)(8)
OF THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED Section 1. A new sub-paragraph to be known as sub-paragraph
(F) is hereby inserted at the end of Sec. 28(b)(8) of the National
Internal Revenue Code, as amended, which shall read as follows: Sec. 2. The exclusion herein provided shall cover
benefits paid or accrued beginning January 1, 1994. Sec. 3. The Secretary of Finance shall, upon the recommendation of the Commissioner of Internal Revenue, promulgate the necessary rules and regulations for the effective implementation of the provision of this Act. Sec. 4. All laws, decrees, orders, rules and regulations and other issuances inconsistent with this Act are hereby repealed or amended accordingly. Sec. 5. This Act shall take effect fifteen (15)
days after its complete publication in the Official Gazette or in any
two (2) newspapers of general circulation, whichever comes
earlier. Approved: December 8, 1994 |
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