Republic Act No. 4103
Year:
1964
Category:
Other
Date Approved:
June 19, 1964
Summary
Plain-language AI-assisted summary — not the official text. As of July 1, 2026. Read the full text below or on the official source.
This Act amends Section 190 of Commonwealth Act No. 466, which pertains to the compensating tax on commodities purchased or received by individuals or businesses in the Philippines. It outlines the conditions under which the tax is applied and the exemptions available for certain goods.Full Text
REPUBLIC ACT No 4103
AN ACT TO AMEND SECTION ONE HUNDRED NINETY OF COMMONWEALTH ACT NUMBERED FOUR HUNDRED SIXTY-SIX, AS AMENDED, OTHERWISE KNOWN AS THE NATIONAL INTERNAL REVENUE CODE.
Section 1. Section one hundred and ninety of Commonwealth Act Numbered Four hundred and sixty-six, as amended, is further amended to read as follows:
"Sec. 190. Compensating tax. On the commodities goods, wares or merchandise purchased or received by persons residing or doing business in the Philippine, there shall be paid a compensating tax on the total value thereof, including freight, postage, insurance, commission and similar charges, equivalent to the percentage taxes imposed under this Title on original transactions effected by merchants, importers, or manufacturers, such tax to be paid before the withdrawal or removal of said commodities, goods, wares or merchandise from the customhouse or the post office, except as follows:
Section 2. This Act shall take effect upon its approval.
Approved: June 19, 1964
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