(NAR) VOL. 6 NO. 1 / JANUARY - MARCH 1995
SECTION 1. Section 1(m) of Revenue Regulations No. 6-85, as amended by Revenue Regulations No. 12-94, is hereby further amended to read as follows:
"(m) Certain income payments made by credit card companies - On the gross amount paid by any credit card company in the Philippines to any business entity, whether a natural or juridical person, representing the sales of goods/services made by the aforesaid business entity to cardholders – fifty percent (50%) of one percent (1%)."
SECTION 2. Effectivity - These Regulations shall take effect on October 1, 1994."
Adopted: 05 September 1994
(SGD.) ROBERTO F. DE OCAMPO
Secretary of Finance
(SGD.) LIWAYWAY VINZONS-CHATO