Republic Acts1 min read
Section 12Sec./Art. 12
Personal notes Saved on this device
0 / 5,000 charactersReport page issue
Answer First
Primary Text
Section 288 of the National Internal Revenue Code of 1997, as amended, is hereby further amended to read as follows:
"Section 288. Disposition of Incremental Revenues. -
"(H) Incremental Revenues from Value-added Tax on Digital Service Providers. - Five percent (5%) of the incremental revenue from the value-added tax on digital service providers under Section 108 shall be alloted to and used exclusively for the development of crative industries, as defined under Republic Act No. 11904, otherwise known as the "Philippine Creative Industries Development Act," for five (5) years from the effectivity of this Act.
"Upon the lapse of five(5)-year period, all such incremental revenues shall accrue to the General Fund."
Use With Care
Definitions and exceptions often appear before or after this text.
Court decisions may interpret, limit, or apply this provision.
Confirm amendment, repeal, effectivity, and official publication.