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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.
Republic Acts :
REPUBLIC ACTS
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REPUBLIC ACT NO. 3704 - AN ACT
AMENDING SECTIONS ONE HUNDRED EIGHTY-TWO ONE HUNDRED EIGHTY-NINE OF THE
NATIONAL INTERNAL REVENUE CODE, BY PROVIDING AN ANNUAL GRADUATED FIXED
TAX ON RICE AND CORN MILLS AND EXEMPTING THEM FROM THE PERCENTAGE TAX
OF TWO PER CENTUM |
Section 1. Section One Hundred Eighty-Two of the National
Internal Revenue Code, as amended, is further amended by adding to
paragraph (3) thereof a new subparagraph, hereinafter to be known as
subparagraph (x), to read as follows: "(x)
Operators or owners of rice or corn mills shall
be subject to an annual graduated fixed tax based upon total capacity
per machine in accordance with the following schedule: Sec. 2. The first paragraph of Section one hundred and eighty-nine of the National Internal Revenue Code, as amended, is further amended to read as follows: "Sec.
189. Percentage tax upon proprietors or
operators of rope factories, sugar centrals, coconut oil mills, cassava
mills and desiccated coconut factories. — Proprietors or operators of
rope factories, sugar centrals, coconut oil mills, cassava mills and
desiccated coconut factories shall pay a tax equivalent to two per
centum of the gross value in money of all rope, sugar, coconut oil,
cassava flour or starch, and desiccated coconut manufactured or milled
by them, including the by-products of the raw materials from which said
articles are produced or manufactured, such tax to be based on the
actual selling price or market, value of these articles at the time
they leave the factory or mill warehouse: Provided, however, That this
tax shall not apply to ropes, coconut oil, and the by-products of copra
from which it is produced or manufactured, and desiccated coconuts if
such oil, copra, by-products and desiccated coconuts shall be removed
for exportation and are actually exported without returning to the
Philippines, whether so exported in their original state, or as an
ingredient or part of any manufactured article or product."
Sec. 3. This Act shall take effect upon its approval. Approved: June 22, 1963 |
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