Section 12Sec./Art. 12

Section 81 of the National Internal Revenue Code of 1997, as amended, is hereby amended to read as follows:

"Section 81. Filing of Return and Payment of Taxes Withheld. - Except as the Commissioner otherwise permits, taxes deducted and withheld by the employer on wages of employees shall be covered by a return and paid, either electronically or manually, to any authorized agent bank, Revenue District Office through Revenue Collection Officer, or authorized tax software provider.

The return shall be filed and the payment made, either electronically or manually, within twenty-five (25) days from the close of each calendar quarter: Provided, however, That the Commissioner may, with the approval of the Secretary of Finance, require the employee to pay or deposit the taxes deducted and withheld at more frequent is deemed necessary to protect the interest of the Government.

The taxes deducted and withheld by employers shall be held in a special fund in trust for the Government until the same are paid to the said collecting officers."