REPUBLIC ACT NO. 8424, SECTION 3
THE NATIONAL INTERNAL REVENUE CODE OF 1997
CODE
SECTION
115

Act Sections
Code Sections

"SECTION 115. Power of the Commissioner to Suspend the Business Operations of a Taxpayer. - The Commissioner or his authorized representative is hereby empowered to suspend the business operations and temporarily close the business establishment of any person for any of the following violations:

"(a) In the Case of a VAT-registered Person. -

"(1) Failure to issue receipts or invoices;

"(2) Failure to file a value-added tax return as required under Section 114; or

"(3) Understatement of taxable sales or receipts by thirty percent (30%) or more of his correct taxable sales or receipts for the taxable quarter.

"(b) Failure of any Person to Register as Required under Section 236. -

"The temporary closure of the establishment shall be for the duration of not less than five (5) days and shall be lifted only upon compliance with whatever requirements prescribed by the Commissioner in the closure order.


Back to Main PageBack to Index