Section 5
SEC. 5. Paragraph (a) of section one hundred and sixteen of Commonwealth Act Numbered Four hundred and sixty-six is hereby amended to read as follows: "(a) Time of payment of tax,—The gift taxes imposed by sections one hundred and nine and one hundred and ten of this Chapter shall be due and payable on or before the fifteenth day of May following the close of the calendar year and shall be paid by the donor or donee, as the case may be, to the Collector of Internal Revenue or to the treasurer of the province, city or municipality of which the donor or the donee is a resident.