Senate Bill 250

Sec. 12. Repealing Clause. - All laws, decrees, orders, and issuances, or portions

thereof, which are inconsistent with the provisions of this Act, are hereby repealed,

amended, or modified accordingly.

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Sec. 13. Effectivity-This Act shall take effect fifteen (15) days after its publication in the Official Gazette or in a newspaper of general circulation. Approved,

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amended, is hereby further amended to read as follows

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by any person regardless of whether or not the person engaged therein is a nonstock

pages 14-104

Senate Bill 250

Articles inside

amended, is hereby further amended to read as follows

by any person regardless of whether or not the person engaged therein is a nonstock

sells, barters, exchanges, leases goods or properties, INCLUDING THOSE DIGITAL

ELECTRONICALLY, and any person who imports goods shall be subject to the value

Section 1. Section 105 of the National Internal Revenue Code of 1997, as

services at the time of the effectivity of Republic Act No. 7716

SEC. 105. Persons Liable. - Any person who, in the course of trade or business