An Act to Further Amend Subsection (B) of Section One Hundred Eighty-Three of the National Internal Revenue Code
Year:
1960
Category:
Other
Date Approved:
June 18, 1960
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 Subsection (B) of Section 183 of the National Internal Revenue Code, specifying that the tax imposed shall be collected in cases where the original importer sold or transferred imported articles before their release from Customs custody. It clarifies the obligations of the transferee or indorsee regarding tax payment.Full Text
REPUBLIC ACT No. 2704
An Act to Further Amend Subsection (B) of Section One Hundred Eighty-Three of the National Internal Revenue Code
Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:
Section 1. Subsection (b) of Section one hundred eighty-three of the National Internal Revenue Code, as amended, is further amended by inserting between the first and second paragraphs of said section the following:
Section 2. This Act shall take effect upon its approval.
Approved: June 18, 1960.
"The tax herein imposed shall be collected in all cases where the original importer sold, transferred, or negotiated the imported articles to third persons before release thereof from Customs custody, regardless of the tax status of the original importer and the indorsee or transferee, the same to be paid by the transferee and/or indorsee.
"The provisions of this Act shall not be construed as nullifying whatever interpretation the government has given to the word ‘importer’ heretofore."
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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.