Republic Acts1 min read
Section 18Sec./Art. 18
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Abuse of Tax Exemptions and Privileges. Any person, natural or judicial, who benefits from the tax exemptions and privileges herein granted, when such person is not entitled thereto, shall be subject to the penalties provided in Section 25 hereof. In addition, the offender shall refund to the government double the amount of the tax exemptions and privileges availed of under this Act, plus interest of twelve percent (12%) per year from the date prescribed for its payment until the full payment thereof.
ARTICLE V
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