TITLE XIV
FINAL PROVISIONS
SEC. 292. Separability Clause. - If any clause, sentence, paragraph or part of this Code shall be adjudged by any Court of competent jurisdiction to be invalid, such judgment shall not affect, impair or invalidate the remainder of said Code, but shall be confined in its operation to the clause, sentence, paragraph or part thereof directly involved in the controversy.
[1] Republic Act No. 10653 entitled: “An Act Adjusting the 13th Month Pay and Other Benefits Ceiling Excluded from the Computation of Gross Income for Purposes of Income Taxation, Amending for the Purpose Section 32(B), Chapter VI of the National Internal Revenue Code of 1997, as amended.”
[2]The National Internal Revenue Code of 1997 is embodied under Section 3 of RA 8424, entitled "An Act Amending the National Internal Revenue Code, as Amended, and for Other Purposes," which is otherwise known as the "Tax Reform Act of 1997 and which took effect on January 1, 1998."
[3]Republic Act 1125, entitled "An Act Creating the Court of Tax Appeals," had been amended by RA 3457, RA 9282 and RA 9503.
[4]As amended by RA 10021, supra.
[5] Republic Act No. 10653 entitled, “An Act Adjusting the 13th Month Pay and Other Benefits Ceiling Excluded from the Computation of Gross Income for Purposes of Income Taxation, Amending for the Purpose Section 32(B), Chapter VI of the National Internal Revenue Code of 1997, as amended.”
[6]RA 337, otherwise known as the "General Banking Act," had been amended by RA 8791, otherwise known as the "General Banking Law of 2000."
[7]Ibid.
[9] As added by RA 9504, supra.
[10]Ibid.
[11] Subtitle inserted by RA 9504, supra.
[12] As amended by RA 9504, supra.
[13]As originally added by RA 9504, Ibid.
[14] Source is Section 2 of PD 1354.
[15] As amended by RA 9337, supra.
[16]Ibid.
[17]Now Department of Education (DepEd).
[18] As amended by RA Nos. 9337 and 10026, supra.
[19]As interested by RA 10026, Ibid.
[20] As amended by RA 9294, supra.
[21] As amended by RA 10378 entitled "AN ACT RECOGNIZING THE PRINCIPLE OF RECIPROCITY AS BASIS FOR THE GRANT OF INCOME TAX EXEMPTIONS TO INTERNATIONAL CARRIERS AND RATIONALIZING OTHER TAXES IMPOSED THEREON BY AMENDING SECTIONS 28(A)(3)(a), 109, 118 AND 236 OF THE NATIONAL INTERNAL REVENUE CODE (NIRC), AS AMENDED, AND FOR OTHER PURPOSE".
[22] As amended by RA 9337, supra.
[23] Ibid
[24] As amended by RA 9294, supra.
[25] As amended by RA 9294, supra.
[26] As amended by RA 9337, supra.
[27] As amended by RA 9337, supra.
[28]On July 31, 1986, Section 24 of E.0. 37 changed all "net income" phrases appearing in Title II of the Tax Code of 1977 to "taxable income."
[29] As amended by RA 9337, supra.
[31]Should read as "taxable" income, not "net" income". Refer to Footnote of Section 31 of the NIRC of 1997, supra.
[32] As amended by RA 9504, supra.
[33] Ibid
[34] Ibid
[35] Under RA 9994, otherwise known as the "Senior Citizens Act of 2010," which took effect on February 15, 2010, senior citizens who are considered to be minimum wage earners in accordance with RA 9504shall also be treated as exempt from the payment of individual income tax.
[36] As amended by RA 9504, supra.
[37]Ibid.
[39]N.B.: Under RA 9504, individual taxpayers, regardless of their status are now entitled to just one amount of basic personal exemption, i.e., P50,000.
[41] As inserted by RA 10021, supra.
[42] As amended by RA 9504, supra.
[43]Ibid.
[44] Now 12%
[45] As amended by RA 9337, supra.
[46] As inserted by RA 9337, supra.
[47] Now 12%
[48] As amended by RA 9337, supra.
[49] Ibid.
[50] As amended by RA 9337.
[51] As Amended by RA 9337, supra.
[52] Ibid.
[53] Ibid.
[54] RA 10378, supra.
[55] As amended by RA 9337
[56] As amended by RA 9337, supra.
[57] Ibid.
[58] Ibid.
[59] P 1,919, 500.00 effective January 1, 2012 (RR 16-2001).
[60] P 3,199,200.00 effective January 1, 2012(RR 16-2001).
[61] As amended by RA 9337, supra.
[62] 12,800 (effective January 1, 2012 (RR 16-2011)
[63] As amended by RA 9337, supra.
[64] Ibid.
[65] As amended by RA 9337, supra.
[66] Ibid
[67] Ibid
[68] Ibid
[69] Ibid
[70] As amended by RA 9337, supra.
[71] Ibid.
[72] Ibid.
[73] A amended by RA 9337, supra.
[74] Ibid.
[75] As newly introduced under RA 9337, supra.
[76] Ibid.
[77] Ibid.
[78] Now 12%
[79] As amended by RA 9337.
[80] Republic Act No. 8761, entitled "An Act Imposing the VAT on Certain Services Beginning January 1, 2001, Amending for the Purpose Section 5 of RA 8424 and for other Purposes," was approved on February 1, 2001.
Republic Act No. 9010, entitled "An Act to Further Defer the Imposition of the VAT on Certain Services, Amending for the purpose of Section 5 of RA 8424, as Amended by RA 8761," was approved on February 27, 2001.
Republic Act No. 9238, entitled "An Act Amending Certain Sections of the NIRC of 1997, as Amended by Excluding Several Services from the Coverage of the VAT and Re-imposing the Gross Receipts Tax on Bank and Non-bank Financial Intermediaries Beginning January 1, 2004," lapsed into law on February 5, 2004 without the signature of the President, in accordance with Article VI, Section 27 (1) of the 1987 Constitution.
Republic Act No. 9337, entitled "An Act Amending Sections 27, 28, 34, 106, 107, 108, 109, 110, 111, 112, 114, 116, 117, 119, 121, 148, 151, 236, 237, and 288 of the NIRC of 1997, as Amended, and for Other Purposes," was approved on May 24, 2005. Its effectivity clause provides that it shall take effect July 1, 2005 but due to a TRO issued by the Supreme Court, the law took effect only on Nov. 1, 2005 when the TRO was finally lifted. But the increase of the VAT rate from 10% to 12% took effect only beginning February 1, 2006.
Republic Act No. 10001, entitled "An Act Reducing the Taxes on Life Insurance Policies, Amending for this Purpose Sections 123 and 183 of the NIRC of 1997, As Amended," was approved on February 23, 2010.
[81] As amended by RA 9337, supra.
[82] As Amended by RA 10378, supra.
[83] As amended by RA 9337, supra.
[84] As originally amended by RA 9238, supra, and as last amended by RA 9337, supra.
[85] RA 9238, supra, re-imposed the gross receipts tax on other non-bank financial intermediaries which includes pawnshops beginning January 1, 2004.
[86] As amended by RA 9238 and RA 9337, supra.
[87] As amended by RA 10001, supra.
[88] Republic Act No. 9224, entitled "An Act Rationalizing the Excise Tax on Automobiles, Amending for the Purpose the NIRC of 1997, and for Other Purposes" was approved on August 29, 2003.
Republic Act No. 9334, entitled "An Act Increasing the Excise tax Rates Imposed on Alcohol and Tobacco Products, Amending for the Purpose Sec. 131, 141, 142, 143, 144, 145 and 288 of the NIRC of 1997, as Amended," was approved on December 21, 2004 and took effect on January 1, 2005.
Republic Act No. 9337, entitled "An Act Amending Secs. 27, 28, 34, 106, 107, 108, 109, 110, 111, 112, 113, 114, 116, 117, 119, 121, 148, 151, 236, 148, 151, 236, 237 and 288 of the NIRC of 1997, as Amended, and for Other Purposes," was approved on May 24, 2005. Its effectivity clause provides that it shall take effect July 1, 2005 but due to a TRO issued by the Supreme Court, the law took effect only on November 1, 2005 when the TRO was finally lifted. But the increase of the VAT rate form 10% to 12% took effect only beginning February 1, 2006.
[89] As amended by RA 9334, supra and RA 10351 entitled, An Act Restructuring the Excise Tax on Alcohol and Tobacco Products by Amending Sections 141, 142, 143, 144, 145, 8, 131 and 288 of Republic Act No. 8424. Otherwise Known as the National Internal Revenue Code of 1997, as amended by Republic Act No. 9334, and for Other Purposes approved on December 19, 2012.
[90] As amended by RA 9334, supra and RA 10351, supra.
[91] As amended by RA 9334, supra and RA 10351, supra.
[92] As amended by RA 9334, supra and RA 10351, supra.
[93] As amended by RA 9334, supra and RA 10351, supra.
[94] As amended by RA 9334, supra and RA 10351, supra.
[95] As amended by RA 10378, supra.
[96]Republic Act no. 9334, entitled "An Act Increasing the Excise Tax Rates imposed on Alcohol and tobacco Products, Amending for the Purpose Sections 131, 141,142, 144, and 288 of the NIRC of 1997, as amended," was approved on December 21, 2004 and took effect on January 1, 2005.
Republic Act No. 9334, entitled "An Act Amending Section 27, 28, 34, 106, 107, 108, 109, 110, 111, 112, 113, 114, 116, 117, 119, 121, 148, 151, 236, 237, and 288 of the NIRC of 1997, as Amended, and for other Purposes" was approved on May 24, 2005. Its affectivity clause provides that it shall take effect July 1, 2005 but due to TRO issued by the Supreme Court, the law took effect November 1, 2005 when the TRO was finally lifted. But the increase of the VAT rate from 10% to 12% took effect only beginning February 1, 2006.
Republic Act No. 10026, entitled "An Act Granting Income Tax Exemption to Local Water Districts by Amending Section 27(C) of the NIRC of 1997, As Amended, and Adding Section 289-A to the Code for the Purpose," was approved on March 21, 2010 without the signature of the President in accordance with Article VI, Section 27(1) of the Constitution.
[97] The Act referred to is RA 10026, supra.
[98]Ibid.
[99]Ibid.
Source :
No comments:
Post a Comment