An Act to Amend Sections One Hundred and Eighty-Four and One Hundred and Eighty-Five of Commonwealth Act Numbered Four Hundred and Sixty-Six, Otherwise Known as the National Internal Revenue Code, as Amended

REPUBLIC ACT No. 217

An Act to Amend Sections One Hundred and Eighty-Four and One Hundred and Eighty-Five of Commonwealth Act Numbered Four Hundred and Sixty-Six, Otherwise Known as the National Internal Revenue Code, as Amended

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

Section 1. Section one hundred and eighty-four of Commonwealth Act Numbered Four hundred and sixty-six, as last amended by section one of Republic Act Numbered Forty-one, is hereby further amended to read as follows:

Section 2. Section one hundred and eighty-five of Commonwealth Act Numbered Four hundred and sixty-six, as last amended by section two of Republic Act Numbered Forty-one, is hereby further amended to read as follows:

Section 3. This Act shall take effect upon its approval.

Approved: June 1, 1948.

"Sec. 184. Percentage tax on sales of jewelry, automobiles, toilet preparations, and other.— There shall be levied, assessed and collected once only on every original sale, barter, exchange, or similar transaction intended to transfer ownership of, or title to, the articles hereinbelow enumerated a tax equivalent to thirty per centum of the gross value in money of the articles so sold, bartered, exchanged, or transferred, such tax to be paid by the manufacturer, producer, or importer: Provided, That where the articles are manufactured out of materials subject to tax under this section, the total cost of such materials, as duly established, shall be deductible from the gross selling price or gross value in money of the manufactured articles.

"Sec. 185. Percentage tax on sales of automobiles, sporting goods, refrigerators, musical instruments and others.— There shall be levied, assessed, and collected once only on every original sale, barter, exchange, or similar transaction intended to transfer ownership of, or title to, the articles hereinbelow enumerated, a tax equivalent to fifteen per centum of the gross selling price or gross value in money of the articles so sold, bartered, exchanged or transferred, such tax to be paid by the manufacturer, producer, or importer: Provided, That where the articles are manufactured out of materials subject to tax under this section and section one hundred and eighty-six the total cost of such materials, as duly established, shall be deductible from the gross selling price or gross value in money of the manufactured articles.