Amending Section 9 of the Local Tax Code
Presidential Decree No. 863, issued on December 29, 1975, amends Section 9 of the Local Tax Code in the Philippines. It allows provinces to impose a franchise tax on businesses based on their gross receipts, capped at 0.5% of the previous year's gross annual receipts. Notably, this tax does not apply to broadcast radio and television stations registered with the Broadcast Media Council. The decree also nullifies any conflicting laws or regulations and takes immediate effect.
Law Information
- Reference Number
- Presidential Decree No. 863
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Presidential Decrees
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
December 29, 1975
PRESIDENTIAL DECREE NO. 863
AMENDING SECTION 9 OF THE LOCAL TAX CODE
I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution, hereby order and decree: cd i
SECTION 1. Section 9, Article 1, Chapter II of Presidential Decree No. 231, otherwise known as the Local Tax Code, is hereby amended to read as follows:
"Sec. 9. Franchise tax. — Any provision of special laws to the contrary notwithstanding, the province may impose a tax on businesses enjoying franchise, based on the gross receipts realized within its territorial jurisdiction, at the rate of not exceeding one-half of one percent of the gross annual receipts for the preceding calendar year; provided, however, that the franchise tax authorized in this section shall not be imposed on broadcast radio stations and television firms duly registered with the Broadcast Media Council created under Presidential Decree No. 576.
xxx xxx xxx
SECTION 2. All laws, decrees, executive orders, rules or regulations which are in conflict or inconsistent with this Decree are hereby amended, modified or repealed accordingly.
SECTION 3. This Decree shall take effect immediately.
DONE in the City of Manila, this 29th day of December, in the year of Our Lord, Nineteen Hundred and Seventy-Five.
Cite This Law
Amending Section 9 of the Local Tax Code, Presidential Decree No. 863, Dec 29, 1975 (Philippines)
Amending Section 9 of the Local Tax Code, Presidential Decree No. 863 (Phil. 1975)
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