Disposition of proceeds of income, inheritance, and gift taxes.
Section 360
SEC. 360. Disposition of proceeds of income, inheritance, and gift taxes. — Two and one-half per centum of the proceeds of the tax on income and of the tax on inheritance, legacies, and other acquisitions mortis causa, as well as on gifts, shall accrue to the provinces, two and one-half per centum shall accrue to the municipalities, and the remaining ninety-five per centum shall accrue to the National Government. The proceeds accruing to the provinces and municipalities shall be apportioned on the basis of population as shown by the latest official census.