Republic Acts1 min read
Section 8Sec./Art. 8
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Section 57 of the National Internal Revenue Code of 1997, as amended, is hereby further amended to read as follows:
"Section 57. Withholding of Tax at Source. -
(A) x x x
(B) x x x
(C) Tax-free Covenant Bonds. - x x x
The Department of Finance shall review, at least once every three (3) years, regulations and processes for the withholding of creditable tax under this Code, and direct the Bureau of Internal Revenue to amend rules and regulations for the same, should it be found during the review that the existing rules, regulations, and processes for the withholding of creditable tax under this Code adversely and materially impact the taxpayer: Provided, That micro taxpayers shall not be required to withhold taxes under Subsection (b) of this Section."
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