An Act to Amend Section 1458 of Act No. 2711, Known as the Administrative Code, as Amended
Act No. 3074, enacted on March 16, 1923, amends Section 1458 of the Administrative Code regarding the payment of percentage taxes on business earnings. It mandates that taxpayers must submit truthful quarterly reports of their business earnings and pay the corresponding taxes. If a business fails to pay the tax on time, a 25% increase will be applied. Additionally, if a false or fraudulent tax return is submitted, a 100% surcharge will be imposed on the tax due, which will be collected alongside the original tax amount unless the tax was already paid before the fraud was discovered. This law took effect on January 1, 1923.
Quick Answers
- What is An Act to Amend Section 1458 of Act No. 2711, Known as the Administrative Code, as Amended about?
- Act No. 3074, enacted on March 16, 1923, amends Section 1458 of the Administrative Code regarding the payment of percentage taxes on business earnings. It mandates that taxpayers must submit truthful quarterly reports of their business earnings and pay the corresponding taxes. If a business fails to pay the tax on time, a 25% increase will be applied. Additionally, if a false or fraudulent tax return is submitted, a 100% surcharge will be imposed on the tax due, which will be collected alongside the original tax amount unless the tax was already paid before the fraud was discovered. This law took effect on January 1, 1923.
- What type of law is Act No. 3074?
- An Act to Amend Section 1458 of Act No. 2711, Known as the Administrative Code, as Amended (Act No. 3074) is a Philippine Statutes enacted by the Congress of the Philippines.
- When was An Act to Amend Section 1458 of Act No. 2711, Known as the Administrative Code, as Amended enacted?
- An Act to Amend Section 1458 of Act No. 2711, Known as the Administrative Code, as Amended (Act No. 3074) was enacted on Mar 16, 1923.
- What is the citation for An Act to Amend Section 1458 of Act No. 2711, Known as the Administrative Code, as Amended?
- An Act to Amend Section 1458 of Act No. 2711, Known as the Administrative Code, as Amended, Act No. 3074, Mar 16, 1923 (Philippines)
Law Information
- Reference Number
- Act No. 3074
- Date Enacted
- Category
- Statutes
- Subcategory
- Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
March 16, 1923
ACT NO. 3074
AN ACT TO AMEND SECTION FOURTEEN HUNDRED AND FIFTY-EIGHT OF ACT NUMBERED TWENTY-SEVEN HUNDRED AND ELEVEN, KNOWN AS THE ADMINISTRATIVE CODE, AS AMENDED BY ACT NUMBERED TWENTY-EIGHT HUNDRED AND NINETY-TWO, BY PROVIDING FOR THE IMPOSITION AND COLLECTION OF A SURCHARGE ON THE TAX DUE FROM TAXPAYERS WHO RENDER OR MAKE FALSE OR FRAUDULENT RETURNS OF THEIR EARNINGS OR BUSINESS
SECTION 1. Section fourteen hundred fifty-eight of Act Numbered Twenty-seven hundred and eleven, known as the Administrative Code, as amended by section two of Act Numbered Twenty-eight hundred and ninety-two, is hereby amended to read as follows:
"SEC. 1458. Payment of percentage taxes — Quarterly report of earnings. — The percentage taxes on business shall be payable at the end of each calendar quarter in the amount lawfully due on the business transacted during each of quarter; and it shall be the duty of every person conducting a business subject to such tax, within the same period as is allowed for the payment of the quarterly installments of the fixed taxes without penalty, to make a true and complete return of the amount of the receipts or earnings of his business during the preceding quarter and pay the tax due thereon: Provided, however, That it shall be the duty of any person retiring from a business subject to the percentage tax before the expiration of the calendar quarter to notify the nearest internal-revenue officer thereof, file his declaration, and pay the tax due on his business immediately after closing the same.
"If the percentage tax on any business is not paid within the time prescribed above the amount of the tax shall be increased by twenty-five per centum, the increment to be a part of the tax.
"In case a false or fraudulent return is made, the Collector of Internal Revenue shall add to the tax a surcharge of one hundred 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."
SECTION 2. This Act shall take effect on January first, nineteen hundred and twenty-three.
Approved, March 16, 1923.
Cite This Law
An Act to Amend Section 1458 of Act No. 2711, Known as the Administrative Code, as Amended, Act No. 3074, Mar 16, 1923 (Philippines)
An Act to Amend Section 1458 of Act No. 2711, Known as the Administrative Code, as Amended, Act No. 3074 (Phil. 1923)
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