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
.
AN ACT AMENDING OR REPEALING
CERTAIN SECTIONS OF TITLES V AND VIII OF THE NATIONAL INTERNAL REVENUE
CODE |
Section 1. Section one hundred and ninety-one of Commonwealth Act Numbered Four hundred and sixty-six is hereby amended to read as follows: "Sec. 191.
Percentage tax on road, building, irrigation, artesian well,
waterworks, and other construction work contractors, proprietors or
operators of dockyards, and others. — Road, building, irrigation,
artesian well, waterworks, and other construction work contractor;
filling contractors; persons engaged in the installation of gas, or
electric light, heat, or power; persons selling light, heat, or power,
except those paying a franchise tax; proprietors or operators of
dockyards, mine drilling apparatus, smelting plants, engraving plants,
plating establishments, dry cleaning or dyeing establishments, steam
laundries, photographic studios, telephone or telegraph lines or
exchanges, broadcasting or wireless stations, funeral parlors, shops
for the construction or repair of bicycles of vehicles of any kind,
mechanical devices, instruments, apparatus, or furniture of any kind,
and tailor shops, beauty parlors; dressmakers; milliners; hatters;
keepers of hotels, lodging houses; stevedores; warehousemen; plumbers;
smiths; house or sign painters; lithographers; publishers, except those
engaged in the publication or printing and publication of any
newspaper, magazines, review, or bulletin which appears at regular
intervals, with fixed prices for subscription and sale, and which is
not devoted principally to the publication of advertisements; printers;
and bookbinders, shall pay a tax equivalent to two per centum of their
gross receipts. Sec. 2. Sec. one hundred and ninety-two of Commonwealth Act Numbered Four hundred and sixty-six is hereby amended to read as follows: "Sec. 192.
Percentage tax on carriers and keepers of garages. — Keepers of
garages, transportation contractors, persons who transport passengers
or freight for hire, and common carriers by land, air, or water, except
owners of bancas, and owners of animal-drawn two-wheeled vehicles,
shall pay a tax equivalent to two per centum of their gross receipts:
Provided, That those whose gross receipts do not exceed two hundred
pesos each quarter shall be exempt from the payment of the tax provided
for in this Sec.." Sec. 3. The heading of Chapter I, Title VIII, and Sec. two hundred and forty-nine of Commonwealth Act Numbered Four hundred and sixty-six are hereby amended to read as follows: "CHAPTER I. —
Tax on Banks
Sec. 4. Sec. two hundred and fifty of Commonwealth Act Numbered Four hundred and sixty-six is hereby amended to read as follows: "Sec. 250.
Times for payment of tax — Increase of tax in case of delinquency. —
The tax imposed in the next preceding Sec. shall be payable at the end
of each calendar quarter and it shall be the duty of every bank, within
twenty days after the end of each calendar quarter, to make a true and
complete return of the amount of gross income derived during the
preceding calendar quarter and pay the tax due thereon and if any such
tax is not paid within the time prescribed herein, the amount of the
tax shall be increased by twenty-five per centum, the increment to be a
part of the tax." Sec. 5. Sec.s two hundred and fifty-one to two hundred and fifty-four of Commonwealth Act Numbered Four hundred and sixty-six are hereby repealed.cralaw
Sec. 6. Sec. two hundred and fifty-five of
Commonwealth Act Numbered Four hundred and sixty-six, as amended by
Sec. one of Commonwealth Act Numbered Five hundred and twenty-three, is
hereby amended to read as follows: "Sec. 255.
Taxes on insurance premiums. — There shall be collected from every
person, company, or corporation (except purely cooperative companies or
associations) doing insurance business of any sort in the Philippines a
tax of one per centum of the total premiums collected during the first
five years of his or its organization or establishment, irrespective of
the place thereof; two per centum, during the next succeeding five
years; and three per centum, thereafter, whether such premiums are paid
in money, notes, credits, or any substitute for money but premiums
refunded within six months after payment on account of rejection of
risk or returned for other reason to person insured shall not be
included in the taxable receipts; nor shall any tax be paid upon
reinsurance by a company that has already paid the tax; nor upon
premiums collected or received by any branch of a domestic corporation,
firm or association doing business outside the Philippines on account
of any life insurance of the insured who is a non-resident if any
percentage tax on such premiums in imposed by the foreign country where
the branch is established. Sec. 7. Sec. two hundred and fifty-nine of Commonwealth Act Numbered Four hundred and sixty-six is hereby amended to read as follows: "Sec. 259. Tax
on corporate franchises. — There shall be collected in respect to all
existing and future franchises, upon the gross earnings or receipts
from the business covered by the law granting the franchise a tax of
five per centum or such taxes, charges and percentages as are specified
in the special charters of the corporations upon whom such franchises
are conferred, whichever is higher, unless the provisions thereof
preclude the imposition of a higher tax. For the purpose of
facilitating the assessment of this tax, reports shall be made by the
respective holders of the franchises in such form and at such times as
shall be required by the regulations of the Department of Finance.cralaw Sec. 8. Sec. two hundred and sixty of Commonwealth Act Numbered Four hundred and sixty-six is hereby amended to read as follows: "Sec. 260.
Amusement taxes. — There shall be collected from the proprietor,
lessee, or operator of theaters, cinematographs, concert halls,
circuses, boxing exhibitions, and other places of amusement the
following taxes: "(a) When the
amount paid for admission exceeds twenty centavos but does not exceed
twenty-nine centavos, four centavos on each admission; "In the case of theaters or cinematographs, the taxes herein prescribed shall first be deducted and withheld by the proprietors, lessees, or operators of such theaters or cinematographs and paid to the Collector of Internal Revenue before the gross receipts are divided between the proprietors, lessees, or operators of the theaters or cinematographs and the distributors of the cinematographic films.cralaw "In the case of cockpits, cabarets, and night clubs, there shall be collected from the proprietor, lessee or operator a tax equivalent to ten per centum, and in the case of race-tracks and Jai-alai, twenty per centum of the gross receipts, irrespective of whether or not any amount is changed or paid for admission: Provided, however, That in the case of race-tracks, this tax is in addition to the privilege tax prescribed in Sec. one hundred and ninety-three. For the purpose of amusement tax, the term "gross receipts" embraces all the receipts of the proprietor, lessee, or operator of the amusement place.cralaw "The taxes imposed herein shall be payable at the end of each month and it shall be the duty of the proprietor, lessee, or operator concerned, within ten days after the end of each month, to make a true and complete return of the amount of gross receipts derived during the preceding month and pay the tax due thereon.cralaw "In case of willful neglect to file the return within the period prescribed herein, or in case of false or fraudulent return is wilfully made, there shall be added to the tax or to the deficiency tax, in case any payment has been made on the basis of such return before the discovery of the falsity or fraud, a surcharge of fifty per centum of its amount. The amount so added to any tax shall be collected at the same time and in the same manner and as part of the tax unless the tax has been paid before the discovery of the falsity or fraud, in which case the amount so added shall be collected in the same manner as the tax." Sec. 9. This Act shall take effect on October first, nineteen hundred and forty-six.
Approved:
October 1, 1946 |
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