Republic Acts1 min read
Section 3Sec./Art. 3
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Section 118 of the National Internal Revenue Code of 1997, as amended, is hereby further amended to read as follows:
"SEC. 118. Percentage Tax on International Carriers.
"(A) International air carriers doing; business in the Philippines on their gross receipts derived from transport of cargo from the Philippines to another country shall pay a tax of three percent (3%) of their quarterly gross receipts.
"(B) International shipping carriers doing business in the Philippines on their gross receipts derived from transport of cargo from the Philippines to another country shall pay a tax equivalent to three percent (3%) of their quarterly gross receipts."
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