Section 29Sec./Art. 29

Section 128 of the National Internal Revenue Code of 1997, as amended, is hereby amended to read as follows:

"Section 128. Returns and Payment of Percentage of Tax. -

(1) Persons Liable to Pay Percentage Taxes. - Every person subject to the percentage taxes imposed under this Title shall file, either electronically or manually, a quarterly return of the amount of the person's gross sales, or earnings and pay, either electronically or manually, to any authorized agent banks, Revenue District Office through Revenue Collection Officer, or authorized tax software provider, the tax due thereon within twenty-five (25) days after the end of each taxable quarter: Provided, That in the case of a person whose VAT registration is cancelled and who becomes liable to the tax imposed in Section 116 of this Code, the tax shall accrue from the date of cancellation and shall be paid in accordance with the provisions of this Section.

(2) Person Retiring from Business. - Any person retiring from a business subject to percentage tax shall notify the nearest internal revenue officer, file, either electronically or manually, the person's return and pay, either electronically or manually, the tax due thereon within twenty (20) days after closing the business.

x x x

(B) Where to File. - Except as the Commissioner otherwise permits, every person liable to the percentage tax under this Title shall file, either electronically or manually, a consolidated return for all branches or places of business with any authorized agent bank, Revenue District Officer through Revenue Collection Officer, or authorized tax software provider."