Section 29
SEC. 29. Section 208 of the National Internal Revenue Code is hereby renumbered and amended to read as follows: “SEC. 174. Percentage tax on stock, real estate, commercial, customs and immigration brokers, cinematographic film owners, producers, lessors or distributors. – Stock, real estate, commercial, customs, and immigration brokers shall pay a percentage tax equivalent to seven percent of the gross compensation received by them. Cinematographic film lessors, or distributors shall pay a percentage tax of three per cent of their gross receipts: Provided, however, That the term “cinematographic films” shall not include video tape cassettes.”