Bill Type
Congress Name
Long Title
AN ACT PROVIDING AN ALTERNATIVE MODE OF TAX PAYMENT BY CORPORATIONS, AMENDING FOR SUCH PURPOSE SECTION 56 (A) OF THE NATIONAL INTERNAL REVENUE CODE OF 1997
Date filed
July 2, 2001
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 183, 12th Congress of the Republic | |
| FULL TITLE : AN ACT PROVIDING AN ALTERNATIVE MODE OF TAX PAYMENT BY CORPORATIONS, AMENDING FOR SUCH PURPOSE SECTION 56 (A) OF THE NATIONAL INTERNAL REVENUE CODE OF 1997 | |
| ABSTRACT : The proposed bill seeks to introduce an alternative scheme in the payment of corporate income tax, whereby corporations may satisfy 20% of their taxes payable per taxable year by undertaking, completing, and subsequently transferring to the nationalgovernment and/or local government units infrastructure and other developmental projects, donating equipment, or giving other grants, all of the foregoing to be identified in a list drawn up by the Office of the President. | |
| PRINCIPAL AUTHOR/S : TEODORO, GILBERTO JR. C. | |
| DATE FILED : 2001-07-02 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Badelles (010 ) | 2. Zialcita (022 ) |
| 3. Joaquin (022 ) | 4. Syjuco (041 ) |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2001-07-24 |
Abstract
The proposed bill seeks to introduce an alternative scheme in the payment of corporate income tax, whereby corporations may satisfy 20% of their taxes payable per taxable year by undertaking, completing, and subsequently transferring to the nationalgovernment and/or local government units infrastructure and other developmental projects, donating equipment, or giving other grants, all of the foregoing to be identified in a list drawn up by the Office of the President.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.