PHILIPPINE LAWS, STATUTES, CODES & ISSUANCES
PHILIPPINE LAWS, STATUTES AND CODES - CHAN ROBLES VIRTUAL LAW LIBRARY
REPUBLIC ACTS
REPUBLIC ACT NO. 1511 - AN ACT TO
AMEND PARAGRAPH (B) OF SECTION ONE HUNDRED EIGHTY-THREE, AND SECTION
ONE HUNDRED NINETY OF COMMONWEALTH ACT NUMBERED FOUR HUNDRED AND SIXTY-
SIX, OTHERWISE KNOWN AS THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED |
Section 1.
Paragraph (B) of section one hundred eighty-three of Commonwealth Act
Numbered Four hundred sixty-six, otherwise known as the National
Internal Revenue Code, as amended, is hereby further amended to read as
follows: "(B) Sales tax
on imported articles. � When the articles are imported, the percentage
taxes established in sections one hundred eighty-four, one hundred
eighty-five, and one hundred eighty-six of this Code shall be paid in
advance by the importer, in accordance with regulations promulgated by
the Secretary of Finance and prior to the release of such articles from
customs' custody, based on the import invoice value thereof, certified
to as correct by the Philippine Consul at the port of origin if there
is any, including freight, postage, insurance, commission, customs
duty, and all similar charges, plus one hundred per centum of such
total value in the case of articles enumerated in section one hundred
and eighty-four; fifty per centum in the case of articles enumerated in
section one hundred and eighty-five; and twenty-five per centum in the
case of articles enumerated in section one hundred and eighty-six. The
tax imposed in this section shall not apply to articles to be used by
the importer himself in the manufacture or preparation of articles
subject to specific tax or those for consignment abroad and are to from
part thereof.
"In case luxury articles brought
or imported into the Philippines tax-free by persons, entities or
agencies exempt from tax are subsequently sold in the Philippines to
non-exempt private persons or entities, the sale or transfer shall be
considered as an original transaction subject to percentage tax under
this title. The tax due thereon shall be based on the market value
thereof, and payable by the purchaser or transferee within thirty days
from the date of such sale or transfer. If the tax is not paid within
such period, the amount of the tax shall be increased by twenty-five
per centum, the increment to be a part of the tax. The tax due on such
articles shall constitute a lien on the article itself superior to all
other charges or liens, when in the hands of a possessor who acquired
the same with knowledge, actual or constructive, that it was admitted
into the Philippines tax-free, for five years from the date such
articles are purchased from the said tax-exempt persons, entities or
agencies. If the lien cannot be enforced, then the original vendor
shall pay the tax."
Sec. 2. Section one hundred ninety of Commonwealth Act Numbered Four hundred sixty-six, otherwise known as the National Internal Revenue Code, as amended, is hereby further amended by adding a new paragraph thereto, which provides as follows: "In case luxury articles brought
or imported into the Philippines tax-free by persons, entities or
agencies exempt from tax are subsequently sold or transferred in the
Philippines to non-exempt private persons or entities, the sale or
transfer shall be subject to compensating tax. The tax shall be based
on the market value of the article, and payable by the purchaser or
transferee within thirty days from the date of such sale or transfer
and, if not paid during such period, the same shall be increased by
twenty-five per centum, the increment to be a part of the tax. The tax
due on such articles shall constitute a lien on the article itself
superior to all other charges or liens when in the hands of a possessor
who acquired the same with knowledge, actual or constructive, that it
was admitted into the Philippines tax-free, for five years from the
date such articles are purchased from the said tax-exempt persons,
entities, or agencies. If the lien cannot be enforced, then the
original vendor shall pay the tax."
Sec. 3. Date of effectivity. � This Act shall take effect upon its approval.cralaw Approved: June 16, 1956 |
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