Bill Type
Congress Name
Long Title
AN ACT RATIONALIZING THE TAX ON WINNINGS AND DOCUMENTARY STAMP TAX ON HORSE RACING, AMENDING FOR THE PURPOSE SECTIONS 126 AND 190 OF THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED, SECTIONS 11 AND 13 OF REPUBLIC ACT NO. 8407 AND SECTIONS 8 AND 10 OF REPUBLIC ACT NO. 7953
Date filed
August 18, 2005
Scope
Legislative History
| House Bill/Resolution NO. HB04632 |
| FULL TITLE : AN ACT RATIONALIZING THE TAX ON WINNINGS AND DOCUMENTARY STAMP TAX ON HORSE RACING, AMENDING FOR THE PURPOSE SECTIONS 126 AND 190 OF THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED, SECTIONS 11 AND 13 OF REPUBLIC ACT NO. 8407 AND SECTIONS 8 AND 10 OF REPUBLIC ACT NO. 7953 |
| SHORT TITLE : Rationalizing the Tax on Winnings and Documentary Stamp Tax on Horse Racing |
| ABSTRACT : The bill reduces the documentary stamp tax on horse race tickets from 10 centavos to five centavos for specified special events. It seeks to impose a lower tax rate of 4% on additional special events like extra double, daily double + 1, double quinella and pari-mutuel. |
| PRINCIPAL AUTHOR/S : MITRA, ABRAHAM KAHLIL B. |
| DATE FILED : 2005-08-18 |
| SIGNIFICANCE: NATIONAL |
| CO-AUTHORS : |
| 1. Lapus |
| CO-AUTHORS (Journal Entries) : |
| 1. Abayon (042 ) |
| ACTIONS TAKEN BY THE COMMITTEE |
| COMMITEE HEARINGS/ACTIONS: |
| 1. Committee Report filed on 2005-10-18 |
| COMMITTEE REPORT NO. 01003 |
| SUBMITTED ON 2005-08-18 |
| SUBMITTED BY: WAYS AND MEANS |
| RECOMMENDATIONS: approval |
| SUBSTITUTED BILLS: HB00681 |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON RULES ON 2005-08-22 |
| DATE INCLUDED IN OB: 2005-08-22 |
| DATE CALENDARED : 2005-09-26 |
Abstract
The bill reduces the documentary stamp tax on horse race tickets from 10 centavos to five centavos for specified special events. It seeks to impose a lower tax rate of 4% on additional special events like extra double, daily double + 1, double quinella and pari-mutuel.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.