Category Archives: National Internal Revenue Code [RA 8424]

THE NATIONAL INTERNAL REVENUE CODE OF THE PHILIPPINESTax Reform Act of 1997/Republic Act No. 8424 AN ACT AMENDING THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED, AND FOR OTHER PURPOSES SECTION 1. Short Title – This Act shall be cited as … Continue reading →

TITLE II TAX ON INCOME CHAPTER I DEFINITIONS SEC. 22. Definitions – When used in this Title: (A) The term “person” means an individual, a trust, estate or corporation. (B) The term “corporation” shall include partnerships, no matter how created … Continue reading →

TITLE III CHAPTER IESTATE TAX SEC. 84. Rates of Estate Tax. – There shall be levied, assessed, collected and paid upon the transfer of the net estate as determined in accordance with Sections 85 and 86 of every decedent, whether … Continue reading →

TITLE IVVALUE-ADDED TAX CHAPTER IIMPOSITION OF TAX SEC. 105. Persons Liable. – Any person who, in the course of trade or business, sells barters, exchanges, leases goods or properties, renders services, and any person who imports goods shall be subject … Continue reading →

TITLE VOTHER PERCENTAGE TAXES SEC. 116. Tax on Persons Exempt From Value-Added Tax (VAT). – Any person whose sales or receipts are exempt under Section 109(z) of this Code from the payment of value-added tax and who is not a … Continue reading →