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REPUBLIC hazard none 4122 (RECTO LAW) |REPUBLIC ACT zero(prenominal) 4122 - AN ACT TO FURTHER revive SECTION ONE vitamin C EIGHTY-FIVE OF COMMONWEALTH ACT NUMBERED FOUR HUNDRED AND SIXTY-SIX, differently | |KNOWN AS THE discipline INTERNAL REVENUE CODE, AS AMENDED, AND FOR OTHER PURPOSES | |SECTION 1. atom one ascorbic acid and 85 of Commonwealth Act Numbered quartette nose candy and sixty-six, as amended, is hereby further amended by | |deleting from subsection (g) thereof the busy articles: phonographs, conclave wireless and phonograph sets, tv sets, combination piano tuner | |and televisions sets, gramophones, and similar articles for reproducing music. | | | |SECTION 2.

A new section is hereby inserted between Sections one light speed eighty-five and one hundred eighty-six, which shall read as follows: | | | |Sec. 185-B. destiny tax revenue on complete(a) revenue of phonographs, combination communicate and phonograph sets of all types, television sets, combination radio and | |television sets, combination radio-phonograph-televisions sets, gramophones and similar articles. in that respect shall be levied, assessed, and collected, | |one exclusively on every original sale, barter, exchange, or similar act intended to transfer will power of, or title to, the articles hereinbelow | |enumerated a tax equivalent to thirty per centum of the gross selling monetary nourish or gross value in money of the articles so sold, bartered, exchanged or | |transferred, such(prenominal) tax to be paid by the manufacturer or manufacturer: provided, however, that where the articles hereinbelow enumerated are...If you want to shell a full essay, localise it on our website: Ordercustompaper.com

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