Republic Acts1 min read
Section 5Sec./Art. 5
Personal notes Saved on this device
0 / 5,000 charactersReport page issue
Answer First
Primary Text
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) Withholding of Final Tax on Certain Incomes. - x x x
(B) Withholding of Creditable Tax at Source. - The Secretary of Finance may, upon the recommendation of the Commissioner, require the withholding of a tax on the items of income payable to natural or juridical persons, residing in the Philippines, by payor-corporation/persons as provided for by law, at the rate of not more than fifteen percent (15%) thereof, which shall be credited against the income tax liability of the taxpayer for the taxable year.
(C) Tax-free Covenant Bonds. - x x x
x x x."
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.