Bill Type
Congress Name
Long Title
FULL TITLE : AN ACT EMPOWERING LOTTO WINNERS OF PRIZES AMOUNTING TO MORE THAN TEN THOUSAND PESOS TO DETERMINE HOW THE FINAL TAX ON HIS OR HER WINNINGS SHALL BE SPENT
Text as filed (link)
Date filed
October 9, 2018
Scope
Legislative History
| House Bill/Resolution NO. HB08418 |
| FULL TITLE : AN ACT EMPOWERING LOTTO WINNERS OF PRIZES AMOUNTING TO MORE THAN TEN THOUSAND PESOS TO DETERMINE HOW THE FINAL TAX ON HIS OR HER WINNINGS SHALL BE SPENT |
| ABSTRACT : Seeks to empower the Lotto winners the right to determine how to spend the final tax of twenty percent (20%) specified in Republic Act No.10963, otherwise known as the TRAIN Law.Provides that the taxpayer can specify in a notarized letter addressed to the President, a government entity, program or project to which the final tax shall be allocated and spent; otherwise if he does not choose a beneficiary or beneficiaries, the final tax proceeds shall form part of the incremental revenues and shall be spent as provided in the TRAIN Law. |
| PRINCIPAL AUTHOR/S : ABAYON, HARLIN NEIL III J. |
| DATE FILED : 2018-10-09 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON GAMES AND AMUSEMENTS ON 2018-10-10 |
Abstract
Seeks to empower the Lotto winners the right to determine how to spend the final tax of twenty percent (20%) specified in Republic Act No.10963, otherwise known as the TRAIN Law.Provides that the taxpayer can specify in a notarized letter addressed to the President, a government entity, program or project to which the final tax shall be allocated and spent; otherwise if he does not choose a beneficiary or beneficiaries, the final tax proceeds shall form part of the incremental revenues and shall be spent as provided in the TRAIN Law
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.