Republic Acts1 min read
Section 145Local Government Code of 1991 (Republic Act No. 7160), Sec. 145
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Retirement of Business. - A business subject to tax pursuant to the preceding sections shall, upon termination thereof, submit a sworn statement of its gross sales or receipts for the current year. If the tax paid during the year be less than the tax due on said gross sales or receipts of the current year, the difference shall be paid before the business is considered officially retired.
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