SEC. 28. The first paragraph of Section 192(2) of the
National Internal Revenue Code is hereby amended to read as follows:
"(2) Person not subject to percentage tax. — Every person who is not
required to pay the percentage tax prescribed under this Title shall pay for
each taxable year in which the person shall engage in business a fixed annual
tax based upon his gross annual sales during the preceding taxable year, as
follows"
Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of July 4, 2026
CitationPD 1705 Section 28 (LawPlayer, data as of July 4, 2026)
Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).
