Section 8
SEC. 8. Paragraph (f) of Section 53 of the National Internal Revenue Code is hereby amended to read as follows: "(f) The Minister of Finance may, upon recommendation of the Commissioner of Internal Revenue, require also the withholding of a tax at appropriate rates not to exceed thirty-five per centum on amounts payable or paid to persons (natural or juridical) residing in the Philippines by the same persons mentioned in paragraph (b) (1) of this section which shall be credited against the income tax liability of the taxpayer for the taxable year."