Article 90p. 90

NATIONAL INTERNAL REVENUE CODE TAXATION, TARIFF and CUSTOMS LAWS

TITLE XIV FINAL PROVISIONS

SEC. 292. Separability Clause. - If any clause, sentence,

paragraph or part of this Code shall be adjudged by any

Court

of

competent

jurisdiction

to

be

invalid, such

judgment

shall

not

affect,

impair

or

invalidate

the

remainder of said Code, but shall be confined in its

operation to the clause, sentence, paragraph or part

thereof directly involved in the controversy.

[1] Republic Act No. 10653 entitled : “ An Act Adjusting the

13th Month Pay and Other Benefits Ceiling Excluded

from the Computation of Gross Income for Purposes of

Income Taxation, Amending for the Purpose Section

32(B), Chapter VI of the National Internal Revenue Code

of 1997, as amended. ”

[2] The National Internal Revenue Code of 1997 is embodied

under Section 3 of RA 8424 , entitled " An Act Amending

the National Internal Revenue Code, as Amended, and

for Other Purposes ," which is otherwise known as the " Tax

Reform Act of 1997 and which took effect on January 1,

1998. "

[3] Republic Act 1125 , entitled " An Act Creating the Court of

Tax Appeals ," had been amended by RA 3457 , RA 9282

and RA 9503 .

[4] As amended by RA 10021 , supra.

[5] Republic Act No. 10653 entitled, “ An Act Adjusting the

13th Month Pay and Other Benefits Ceiling Excluded

from the Computation of Gross Income for Purposes of

Income Taxation, Amending for the Purpose Section

32(B), Chapter VI of the National Internal Revenue Code

of 1997, as amended .”

[6] RA 337 , otherwise known as the " General Banking Act ,"

had been amended by RA 8791, otherwise known as the

" General Banking Law of 2000 ."

[7] Ibid .

[8] RA

2969

is

otherwise

known

as

the

" Investment

Company Act ."

[9] As added by RA 9504 , supra .

[10] Ibid .

[11] Subtitle inserted by RA 9504 , supra .

[12] As amended by RA 9504 , supra .

[13] As originally added by RA 9504 , Ibid .

[14] Source is Section 2 of PD 1354 .

[15] As amended by RA 9337 , supra .

[16] Ibid .

[17] Now Department of Education (DepEd).

[18] As amended by RA Nos. 9337 and 10026 , supra .

[19] As interested by RA 10026 , Ibid .

[20] As amended by RA 9294 , supra .

[21]

As

amended

by

RA

10378

entitled

" AN

ACT

RECOGNIZING

THE

PRINCIPLE

OF

RECIPROCITY

AS

BASIS FOR THE GRANT OF INCOME TAX EXEMPTIONS TO

INTERNATIONAL CARRIERS AND RATIONALIZING OTHER

TAXES IMPOSED THEREON BY AMENDING SECTIONS

28(A)(3)(a), 109, 118 AND 236 OF THE NATIONAL INTERNAL

REVENUE CODE (NIRC), AS AMENDED, AND FOR OTHER

PURPOSE ".

[22] As amended by RA 9337 , supra .

[23] Ibid

[24] As amended by RA 9294 , supra .

[25] As amended by RA 9294 , supra .

[26] As amended by RA 9337 , supra .

[27] As amended by RA 9337 , supra .

[28] On July 31, 1986, Section 24 of E.0. 37 changed all " net

income " phrases appearing in Title II of the Tax Code of

1977 to " taxable income ."

[29] As amended by RA 9337 , supra .

[31] Should read as " taxable " income, not " net " income".

Refer to Footnote of Section 31 of the NIRC of 1997 , supra .

[32] As amended by RA 9504 , supra .

[33] Ibid

[34] Ibid

[35] Under RA 9994 , otherwise known as the " Senior

Citizens Act of 2010 ," which took effect on February 15,

2010, senior citizens who are considered to be minimum

wage earners in accordance with RA 9504 shall also be

treated

as

exempt

from

the

payment of individual

income tax.

[36] As amended by RA 9504 , supra .

[37] Ibid .

[39] N.B. : Under RA 9504 , individual taxpayers, regardless of

their status are now entitled to just one amount of basic

personal exemption, i.e., P50,000.

[40] N.B. : See footnote under Section 62, supra .

[41] As inserted by RA 10021 , supra .

[42] As amended by RA 9504 , supra .

[43] Ibid .

[44] Now 12%

[45] As amended by RA 9337 , supra .

[46] As inserted by RA 9337 , supra .

[47] Now 12%

[48] As amended by RA 9337 , supra .

[49] Ibid .

[50] As amended by RA 9337 .

[51] As Amended by RA 9337 , supra .

[52] Ibid .

[53] Ibid .

[54] RA 10378 , supra .

[55] As amended by RA 9337

[56] As amended by RA 9337 , supra .

[57] Ibid.

[58] Ibid .

[59] P 1,919, 500.00 effective January 1, 2012 (RR 16-2001).

[60] P 3,199,200.00 effective January 1, 2012(RR 16-2001).

[61] As amended by RA 9337 , supra .

[62] 12,800 (effective January 1, 2012 (RR 16-2011)

[63] As amended by RA 9337 , supra .

[64] Ibid .

[65] As amended by RA 9337 , supra .

[66] Ibid

[67] Ibid

[68] Ibid

[69] Ibid

[70] As amended by RA 9337 , supra .

[71] Ibid .

[72] Ibid .

[73] A amended by RA 9337 , supra .

[74] Ibid .

[75] As newly introduced under RA 9337 , supra .

[76] Ibid .

[77] Ibid .

© Compiled by RGL

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