Republic Acts1 min read
Section 8Sec./Art. 8
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A new section is hereby added after Section 115 of the National Internal Revenue Code, as amended, to read as follows:
"Section 115-A. Percentage tax on international carriers.
"(a) International air carriers doing business in the Philippines shall pay a tax of three per centum (3%) of their quarterly gross receipts.
"(b) International shipping carriers doing business in the Philippines shall pay a tax equivalent to three per centum (3%) of their quarterly gross receipts."
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