ChanRobles Virtual law Library
PHILIPPINE LAWS, STATUTES & CODES
A collection of Philippine laws, statutes and codes not included or cited in the main indices of the Chan Robles Virtual Law Library.
Home > Chan Robles Virtual Law Library > Philippine Laws, Statutes & Codes > :
Search for
www.chanrobles.com
:
MEMORANDUM CIRCULARS
PLEASE CLICK HERE FOR THE LATEST ➔ PHILIPPINE LAWS, STATUTES & CODES
MEMORANDUM CIRCULAR NO. 153 -
PRESCRIBING THE GUIDELINES FOR THE IMPLEMENTATION OF TAX EXEMPTION
PRIVILEGES UNDER THE LOCAL GOVERNMENT CODE OF 1991
WHEREAS, under Section 192 of Republic Act
No. 7160, otherwise known as the Local Government Code of 1991, local
government units may, through ordinances duly approved, grant tax
exemptions, incentives or reliefs under such terms and conditions as
they may deem necessary;
WHEREAS, pursuant to Section 156 of the Code, cities and municipalities
may levy and collect a community tax, in lieu of the former residence
tax, which has now been transformed from a national tax to a local tax;
WHEREAS, Sec. 529 of the same Code further provides that all
existing tax ordinances or revenue measures of local government units
shall continue to be in force and effect after the effectivity of RA
7160 unless amended by the sanggunian concerned, or inconsistent with,
or in violation of, the provisions of the Code;
WHEREAS, there exists the need to adopt guidelines for the observance
of local government units concerned with the implementation of the
aforecited provisions of the Code;
IN VIEW THEREOF, the following guidelines are hereby prescribed:
Section 1.
(a)
(b)
(c)
(d)
Sec. 2.
Exemption from the payment of the community tax may also be granted by
the sangguniang bayan or sangguniang panlungsod thru a duly approved
municipal or city ordinance, subject to the guidelines prescribed in
the immediately preceding section.
Sec. 3.
Sec. 4.
Manila, June 4, 1992.
chanrobles virtual law library
Back
to Main
Since 19.07.98.