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REPUBLIC ACT NO. 8424, SECTION 3 THE NATIONAL INTERNAL REVENUE CODE OF 1997
| CODE SECTION 129 |
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REPUBLIC ACT NO. 8424, SECTION 3 THE NATIONAL INTERNAL REVENUE CODE OF 1997
| CODE SECTION 129 |
"TITLE VI - EXCISE TAXES ON CERTAIN GOODS
"CHAPTER I - GENERAL PROVISIONS
"SECTION 129. Goods Subject to Excise Taxes. - Excise taxes apply to goods manufactured or produced in the Philippines for domestic sale or consumption or for any other disposition and to things imported. The excise tax imposed herein shall be in addition to the value-added tax imposed under Title IV.
"For purposes of this Title, excise taxes herein imposed and based on weight or volume capacity or any other physical unit of measurement shall be referred to as 'specific tax' and an excise tax herein imposed and based on selling price or other specified value of the good shall be referred to as 'ad valorem tax.'
