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AN ACT TO EMPOWER THE COMMISSIONER OF INTERNAL REVENUE TO REQUIRE THE PAYMENT OF THE VALUE-ADDED TAX EVERY MONTH AND TO ALLOW LOCAL GOVERNMENT UNITS TO SHARE IN VAT REVENUE, AMENDING FOR THIS PURPOSE CERTAIN SECTIONS OF THE NATIONAL INTERNAL REVENUE CODE

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Year:

1992

Category:

Other

Date Approved:

December 28, 1992

Summary

Plain-language AI-assisted summary — not the official text. As of July 2, 2026. Read the full text below or on the official source.

This Act empowers the Commissioner of Internal Revenue to require the monthly payment of value-added tax (VAT) and allows local government units to share in VAT revenue. It amends specific sections of the National Internal Revenue Code to facilitate these changes.
Full Text


Ninth Congress


Republic Act No. 7643             December 28, 1992

AN ACT TO EMPOWER THE COMMISSIONER OF INTERNAL REVENUE TO REQUIRE THE PAYMENT OF THE VALUE-ADDED TAX EVERY MONTH AND TO ALLOW LOCAL GOVERNMENT UNITS TO SHARE IN VAT REVENUE, AMENDING FOR THIS PURPOSE CERTAIN SECTIONS OF THE NATIONAL INTERNAL REVENUE CODE

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

Section 1. Section 110 of the National Internal Revenue Code, as amended, is hereby further amended to read as follows:

Section 2. Sec. 282 of the National Internal Revenue Code, as amended, is hereby further amended to read as follows:

Section 3. All laws, decrees, orders, rules and regulations, and other issuances inconsistent with this Act are hereby repealed or amended accordingly.

Section 4. This Act shall take effect after fifteen (15) days following its complete publication in the Official Gazette or in at least two (2) national newspapers of general circulation, whichever comes earlier.

Approved: December 28, 1992.


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Official source from LawPhil:

View on LawPhil Last updated: Jul 2, 2026
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Republic Acts are laws passed by the Congress of the Philippines. This content is sourced from LawPhil (lawphil.net) for reference purposes. For official and authoritative texts, please refer to the Official Gazette.