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Section 57. Section 181 of the NIRC, as amended, is hereby further - Taxation Laws (compiled codal)

Section 57. Section 181 of the NIRC, as amended, is hereby further of Taxation Laws (compiled codal). Section 57. Section 181 of the NIRC, as amended, is hereby further amended to read as follows: "Sec. 180. Stamp Tax Upon Acceptance of Bills of E

  • Subjects 9 Bar syllabus groups
  • Codals 48 Primary legal sources

Taxation Laws (compiled codal)

Section 57. Section 181 of the NIRC, as amended, is hereby further amended to read as follows:

"Sec. 180. Stamp Tax Upon Acceptance of Bills of Exchange and Others. - Upon any acceptance or payment of any bill of exchange or order for the payment of money purporting to be drawn in a foreign country but payable in the Philippines, there shall be collected a documentary stamp tax of Sixty centavos (₱0.60) on each Two hundred pesos (₱200), or fractional part thereof, of the face value of any such bill of exchange, or order, or the Philippine equivalent of such value, if expressed in foreign currency."

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