Republic Act No. 2704: An act to further amend subsection (b) of section one hundred eighty-three of the national internal revenue code

In plain language

This act amends subsection (b) of Section 183 of the National Internal Revenue Code to clarify tax collection on imported articles sold or transferred to third parties before release from customs custody, and states that the act does not nullify prior government interpretations.

The tax herein imposed shall be collected in all cases where the original importer sold, transferred, or negotiated the imported articles to third persons before release thereof from Customs custody, regardless of the tax status of the original importer and the indorsee or transferee, the same to be paid by the transferee and/or indorsee.

The provisions of this Act shall not be construed as nullifying whatever interpretation the government has given to the word importer heretofore.

Tax

Revenue Code

Amendment

REPUBLIC ACT No. 2704

An Act to Further Amend Subsection (B) of Section One Hundred Eighty-Three of the National Internal Revenue Code

Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:

Section 1

Subsection (b) of Section one hundred eighty-three of the National Internal Revenue Code, as amended, is further amended by inserting between the first and second paragraphs of said section the following:

"The tax herein imposed shall be collected in all cases where the original importer sold, transferred, or negotiated the imported articles to third persons before release thereof from Customs custody, regardless of the tax status of the original importer and the indorsee or transferee, the same to be paid by the transferee and/or indorsee.
"The provisions of this Act shall not be construed as nullifying whatever interpretation the government has given to the word importer heretofore.

Section 2

This Act shall take effect upon its approval.

Approved: June 18, 1960.

For information and research only, and not legal advice. This text may not reflect later amendments. For certified copies, refer to the Official Gazette or the issuing agency.