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REPUBLIC ACTS
REPUBLIC ACT NO. 991 - AN
ACT AMENDING THE FIRST PARAGRAPH OF Sec. TWO HUNDRED AND SIXTY OF THE
NATIONAL INTERNAL REVENUE CODE BY REDUCING THE AMUSEMENT TAX ON BOXING
EXHIBITIONS AND PROHIBITING MUNICIPAL CORPORATIONS FROM LEVYING FURTHER
TAXES ON SUCH EXHIBITIONS EXCEPT UP TO THE AMOUNT OF FIVE PER CENTUM |
Section 1. The
first paragraph of section two hundred and sixty of the National
Internal Revenue Code, as amended, is hereby further 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, and other places of amusements the following taxes: "(e) When the
amount paid for admission exceeds forty-nine centavos but does not
exceed sixty-nine centavos, twelve centavos on each admission; "In the case of boxing
exhibitions, there shall be collected from the proprietor, lessee, or
operator an amusement tax at a rate equivalent to fifty per centum of
the taxes prescribed in the preceding paragraph: Provided, That no
local government shall impose any tax in excess of five per centum:
Provided, further, That all laws and ordinances in contravention hereto
are repealed." Sec. 2. This Act shall take effect upon its approval. Approved: June 4, 1954 |
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