Percentage tax on stock, real estate, commercial, customs, and immigration brokers.
Section 195
SEC. 195. Percentage tax on stock, real estate, commercial, customs, and immigration brokers. — Stock, real estate, commercial, customs, and immigration brokers shall pay a percentage tax equivalent to four per centum of the gross compensation received by them in excess of five hundred pesos per quarter. The records kept by said brokers may be used as evidence to determine the amount of the percentage tax due from them, and the Collector of Internal Revenue may assess and collect the tax due on the compensation earned in accordance with said records. In any case, the amount of the compensation of said brokers shall be reported quarterly within the time established for the other quarterly reports of sales and receipts.