Section 17
SEC. 17. Paragraph (a) of Section 97 of the National Internal Revenue Code, is hereby amended to read as follows: “(a) Penalties for failure to file; for filing false or fraudulent returns or statements; failure to deduct and withhold; and failure to remit. Any person who fails to file a return or statement as required in this Chapter, or who renders a false or fraudulent return, or who fails to deduct and withhold or fails to remit to the Commissioner of Internal Revenue the amount withheld by such agent, shall upon conviction, for each act or omission, be fined not less than One thousand pesos nor more than Two thousand pesos and imprisoned for not more than One year.”