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REPUBLIC ACT none 4122 (RECTO LAW) |REPUBLIC ACT zero(prenominal) 4122 - AN ACT TO FURTHER AMEND SECTION ONE vitamin C EIGHTY-FIVE OF COMMONWEALTH ACT NUMBERED FOUR HUNDRED AND SIXTY-SIX, other | |KNOWN AS THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED, AND FOR OTHER PURPOSES | |SECTION 1. Section one ascorbic acid and 85 of Commonwealth Act Numbered Four blow and sixty-six, as amended, is herewith further amended by | |deleting from subsection (g) thereof the disport articles: phonographs, conclave wireless and phonograph sets, television set sets, combination wireless | |and televisions sets, gramophones, and similar articles for reproducing music. | | | |SECTION 2.

A new section is hereby inserted between Sections one hundred eighty-five and one hundred eighty-six, which shall read as follows: | | | |Sec. 185-B. Percentage tax revenue on complete(a) revenue of phonographs, combination radio and phonograph sets o f all types, television sets, combination ra! dio and | |television sets, combination radio-phonograph-televisions sets, gramophones and similar articles. there shall be levied, assessed, and collected, | |one only on every authentic sale, barter, exchange, or similar transaction intended to transfer will power of, or title to, the articles hereinbelow | |enumerated a tax equivalent to cardinal per centum of the gross selling price or gross regard as in money of the articles so sold, bartered, exchanged or | |transferred, much(prenominal) tax to be paid by the manufacturer or manufacturer: provided, however, that where the articles hereinbelow enumerated are...If you want to get a full essay, nightclub it on our website: OrderCustomPaper.com

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