Amending Sec. 183 of C.A. No. 466 Re: Sales Tax on Articles Manufactured Locally and Sold on Installment Basis
Republic Act No. 3696, enacted on June 22, 1963, amends Section 183 of the National Internal Revenue Code regarding sales tax on locally manufactured articles sold on an installment basis. The amendment specifies that for articles sold with installment terms of at least twelve months, the applicable percentage taxes will be calculated based on the cash price, defined as the price offered without discounts or rebates. This law aims to clarify the taxation process for installment sales of locally manufactured goods. The Act took effect upon its approval and was published in the Official Gazette.
Law Information
- Reference Number
- Republic Act No. 3696
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 22, 1963
REPUBLIC ACT NO. 3696
AN ACT TO FURTHER AMEND SECTION ONE HUNDRED EIGHTY-THREE OF COMMONWEALTH ACT NUMBERED FOUR HUNDRED AND SIXTY-SIX, AS AMENDED, OTHERWISE KNOWN AS THE NATIONAL INTERNAL REVENUE CODE AND FOR OTHER PURPOSES
SECTION 1. Section one hundred and eighty-three of Commonwealth Act Numbered Four hundred and sixty-six as amended, is hereby amended by adding a new subsection which shall read as follows:
"(c) Sales tax on articles manufactured locally and sold on installment basis. — When the articles are manufactured locally and sold on installment term of at least twelve months, the percentage taxes established in sections one hundred eighty-four, one hundred eighty-five, and one hundred eighty-six of this Code shall be based on the cash prices of the articles, cash price being defined as the price at which an article is offered for sale on cash term to the public without any discount and/or rebate whatsoever during the tax period."
SECTION 2. This Act shall take effect upon its approval.
Approved: June 22, 1963
Published in the Official Gazette, Vol. 59, No. 43, p. 7418 on October 28, 1963
Cite This Law
Amending Sec. 183 of C.A. No. 466 Re: Sales Tax on Articles Manufactured Locally and Sold on Installment Basis, Republic Act No. 3696, Jun 22, 1963 (Philippines)
Amending Sec. 183 of C.A. No. 466 Re: Sales Tax on Articles Manufactured Locally and Sold on Installment Basis, Republic Act No. 3696 (Phil. 1963)
Related Laws
- Amending Sec. 185 of C.A. No. 466 Re: Percentage Tax on Sales of Refrigerators, Airconditioners, etc.Republic Act No. 3029 • Jun 7, 1961 • Statutes
- Amendment to C.A. No. 466 Re: Percentage Tax on Sales of Other ArticlesRepublic Act No. 894 • Jun 20, 1953 • Statutes
- Amendment to C.A. No. 466 Re: Percentage TaxRepublic Act No. 4122 • Jun 20, 1964 • Statutes
- Amending C.A. No. 466 Re: Specific TaxRepublic Act No. 1608 • Aug 23, 1956 • Statutes
- Amending C.A. No. 466 Re: Fixed, Privilege and Percentage TaxesRepublic Act No. 1612 • Aug 24, 1956 • Statutes
- Amendment to C.A. No. 466 Re: Sales Tax on Imported ArticlesRepublic Act No. 1511 • Jun 16, 1956 • Statutes
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