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This page features the full text of
Republic Act No. 7646
AN
ACT AUTHORIZING THE COMMISSIONER OF INTERNAL REVENUE TO PRESCRIBE THE
PLACE
FOR PAYMENT OF INTERNAL REVENUE TAXES BY LARGE TAXPAYERS, AMENDING FOR
THIS PURPOSE CERTAIN PROVISIONS OF THE NATIONAL INTERNAL REVENUE CODE,
AS AMENDED.
REPUBLIC
ACT NO. 7646AN
ACT AUTHORIZING THE COMMISSIONER OF INTERNAL REVENUE TO PRESCRIBE THE
PLACE
FOR PAYMENT OF INTERNAL REVENUE TAXES BY LARGE TAXPAYERS, AMENDING FOR
THIS PURPOSE CERTAIN PROVISIONS OF THE NATIONAL INTERNAL REVENUE CODE,
AS AMENDED.
Section
1. Paragraph (j) of Section 4
of the National Internal Revenue Code, as amended, is hereby further
amended
to read as follows:chanroblesvirtualawlibrary
"(j) The
manner in which internal revenue taxes, such as income tax including
withholding
tax, estate and donor's taxes, value-added tax, other percentage taxes,
excise taxes, and documentary stamps taxes shall be paid through the
collection
officers of the Bureau of Internal Revenue or through duly accredited
banks
which are hereby deputized to receive payments of such taxes and the
returns,
papers, and statements that may be filed by the taxpayers in connection
with the payment of the tax: Provided, however, That,
notwithstanding,
the other provisions of this Code prescribing the place of filing of
returns
and payment of taxes, the Commissioner may by regulations require that
the tax returns, papers, and statements and taxes of large taxpayers be
filed and paid, respectively, through collections officers or through
duly
accredited banks: Provided, further, That the Commissioner can
exercise
this power within six (6) days from the approval of this Act or the
completion
of its comprehensive computerization program, whichever comes earlier: Provided,
finally, That separate venues for the Luzon, Visayas, and Mindanao
areas may be designated for the filing of tax returns and payment of
taxes
by said large taxpayers. chanrobles virtuallaw libraryred
"For
purposes of this section, "large taxpayer" means a taxpayer who
satisfies
any of the following criteria: "(1) Value
added tax (VAT) — Business establishment with VAT paid or payable of at
least One hundred thousand pesos for any quarter of the preceding
taxable
year;
chanrobles virtuallaw libraryred"(2) Excise
tax — Business establishment with excise tax paid or payable of at
least
One million pesos for the preceding taxable year;
"(3) Corporate
income tax — Business establishment with annual income tax paid or
payable
of at least One million pesos for the preceding taxable year; and chanrobles virtuallaw libraryred
"(4) Withholding
tax — Business establishment with withholding tax payment or remittance
of at least One million pesos for the preceding taxable year.
"Provided,
however, That the Secretary of Finance, upon recommendation of the
Commissioner of Internal Revenue, may modify or add to the above
criteria
for determining a large taxpayer after considering such factors as
inflation,
volume of business, wage and employment levels, and similar economic
factors.chanrobles virtuallaw libraryred"The
penalties prescribed under Section 248 of this Code shall be imposed on
any violation of the regulations issued by the Commissioner of Internal
Revenue prescribing the place of filing of returns and payments of
taxes
by large taxpayers.chanrobles virtual law library
Sec.
2. Paragraph (b) of Section 5
of the National Internal Revenue Code, as amended, is hereby further
amended
to read as follows:
"(b) Receipts
for payment made — It shall be the duty of the Commissioner or his duly
authorized representative or a duly accredited bank to whom any payment
of any taxes is made under the provisions of this Code to acknowledge
the
payment of such tax, expressing the amount paid and the particular
account
for which such payment was made in a form and manner prescribed
therefor
by the Commissioner.
Sec.
3. Section 204(1) of the National
Internal Revenue Code, as amended, is hereby further amended to read as
follows:
"Sec.
204. Authority of the Commissioner
to compromise, abate, and refund/credit taxes. — The Commissioner
may "(1) Compromise
the payment of any internal revenue tax when —chanrobles virtuallaw libraryred"(a) A
reasonable doubt as to the validity of the claim against the taxpayer
exists;
or chanrobles virtuallaw libraryred"(b) The
financial position of the taxpayer demonstrates a clear inability to
pay
the assessed tax: Provided, however, That final assessments issued
against
large taxpayers as defined under Section 4 of this Code shall not be
compromised
for less than fifty percent (50%). Any such compromise involving said
taxpayers
lower than fifty (50%) shall be subject to the approval of the
Secretary
of Finance.
Sec.
4. The Secretary of Finance,
upon recommendation of the Commissioner of Internal Revenue, shall
promulgate
the necessary rules and regulations for the effective implementation of
the provisions of this Act.chanrobles virtual law library
chanrobles virtuallaw libraryred
Sec.
5. All laws, decrees, orders,
rules and regulations, and other issuances inconsistent with this Act
are
hereby repealed or amended accordingly.chanrobles virtual law library
Sec.
6. This Act shall take effect
upon its approval. chanrobles virtuallaw libraryred
Approved:
February
24, 1993
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