Tax on Sale, Lease or Disposition of Videograms.
Section 10
SEC. 10. Tax on Sale, Lease or Disposition of Videograms.— Notwithstanding any provision of law to the contrary, the province shall collect a tax of thirty percent (30 %) of the purchase price or rental rate, as the case may be. for every sale, lease or disposition of a videogram containing a reproduction of any motion picture or audio-visual program. Fifty percent (50 %) of the proceeds of the tax collected shall accrue to the province, and the other fifty percent (50°£) shall accrue to the municipality where the tax is collected: Provided, That in Metropolitan Manila, the tax shall be shared equally by the city/municipality and the Metropolitan Manila Commission. The tax herein imposed shall be due and payable within the first twenty (201 days of the month next following that for which it is due. by the proprietor, seller or lessor concerned, and such tax shall be determined on the basis of a true and complete return of the amount of gross receipts derived during the preceding month. If the tax is not paid within the time fixed herein above. the taxpayer shall be subject to such surcharges, interests and penalties prescribed by the Local Tax Code. In case of wilful neglect to file the return and pay the tax within the time required, or in case a fraudulent rerun: is filed or a false return is wilfully made, the taxpayer shall be subject to a surcharge of fifty percent (50%) of the correct amount of the tax due in addition to the interest and penalties provided by tie local Tax Code. Any provision of law to the contrary notwithstanding a city may also levy and collect among others, any of the taxes, fees and other impositions that the province or the municipality may levy and collect.