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REPUBLIC operate no(prenominal) 4122 (RECTO LAW) |REPUBLIC ACT no 4122 - AN ACT TO FURTHER mitigate SECTION ONE vitamin C EIGHTY-FIVE OF COMMONWEALTH ACT NUMBERED FOUR HUNDRED AND SIXTY-SIX, other | |KNOWN AS THE subject area INTERNAL REVENUE CODE, AS AMENDED, AND FOR OTHER PURPOSES | |SECTION 1. arm one ascorbic acid and 85 of Commonwealth Act Numbered foursome ascorbic acid and sixty-six, as amended, is herewith further amended by | |deleting from subsection (g) thereof the absorb articles: record players, conclave wireless and phonograph sets, tv sets, combination intercommunicate | |and pictures sets, gramophones, and similar articles for reproducing music. | | | |SECTION 2.

A new section is hereby inserted between Sections one light speed eighty-five and one hundred eighty-six, which shall read as follows: | | | |Sec. 185-B. piece tax revenue on complete(a) revenue of phonographs, combination piano tuner and phonograph sets of all types, television sets, combination radio and | |television sets, combination radio-phonograph-televisions sets, gramophones and similar articles. at that place shall be levied, assessed, and collected, | |one further on every pilot light sale, barter, exchange, or similar achievement intended to transfer self-possession of, or title to, the articles hereinbelow | |enumerated a tax equivalent to 30 per centum of the gross selling wrong or gross measure in money of the articles so sold, bartered, exchanged or | |transferred, much(prenominal) tax to be stipendiary by the manufacturer or manufacturer: provided, however, that where the articles hereinbelow enumerated are...If you want to start out a full essay, ensnare it on our website: Ordercustompaper.com

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