PHILIPPINE LAWS, STATUTES AND CODES - CHAN ROBLES VIRTUAL LAW LIBRARY
|COMMONWEALTH ACT NO. 380 - AN ACT REQUIRING THE MANAGER OR PERSON IN CHARGE OF ANY SWEEPSTAKE, LOTTERY OR OTHER SIMILAR SCHEME FOR THE DISTRIBUTION OF PRIZES, AUTHORIZED TO BE CONDUCTED BY THE NATIONAL GOVERNMENT OR BY ANY SUBDIVISION, AGENCY OR INSTRUMENTALITY THEREOF, TO DEDUCT THE INCOME TAX DUE FROM WINNERS OF THE PRIZES AND TO PAY THE AMOUNT SO DEDUCTED TO THE COLLECTOR OF INTERNAL REVENUE|
1. It shall be the duty of the manager or person in charge of any
sweepstake, lottery or other similar scheme for the distribution of
prizes, authorized to be conducted by the National Government or by any
subdivision, agency or instrumentality thereof, before paying the
prizes, to deduct from the said prizes such sums as will be sufficient
to cover the amount of income tax due from each prize winner, and to
pay the amount so deducted to the Collector of Internal Revenue or his
deputies within thirty days from the date the amount of the tax has
been determined, and the said manager or person in charge is hereby
made personally liable for such tax in case he fails to make the
deduction and payment herein required to be made. The amount of income
tax to be deducted, as herein provided, shall be determined after
consultation with the Collector of Internal Revenue.
Section2. All administrative, special, and general provisions of law, including the laws in relation to the assessment, remission, collection, and refund of internal revenue taxes, not inconsistent with the provisions of this law, are hereby extended and made applicable to all the provisions of this law and to the tax herein imposed.
Section3. All laws inconsistent with the provisions of this Act are hereby repealed.
Section4. This Act shall take effect upon its approval.