Section 4December 28, 1992, Sec./Art. 4

Section 255 of the National Internal Revenue Code, as amended, is hereby further amended to read as follows:

"Sec. 255. Penal liability of corporations. - Any corporation, association, or general co-partnership liable for any of the acts or omissions penalized under this Code, in addition to the penalties imposed herein upon the responsible corporate officers, partners, or employees, shall, upon conviction for each act or omission, be fined not less than Fifty thousand pesos but not more than One hundred thousand pesos."