Republic Act No. 3696

: The main purpose of Republic Act No. 3696 is to amend Section 183 of Commonwealth Act No. 466 by adding a provision on sales tax for articles manufactured locally and sold on installment basis.
: Section 183 of Commonwealth Act No. 466 is amended by Republic Act No. 3696.
: The newly added subsection (c) provides that when articles are manufactured locally and sold on installment terms of at least twelve months, the percentage taxes are based on the cash prices of the articles.
: Cash price is defined as the price at which an article is offered for sale on cash term to the public without any discount and/or rebate whatsoever during the tax period.
: For installment sales, the percentage taxes are based on the cash price of the articles.
: No, the provision specifically applies to articles manufactured locally.
: The minimum installment term mentioned is at least twelve months.
: The Act took effect upon its approval on June 22, 1963.
: The percentage taxes are those established in Sections 184, 185, and 186 of the National Internal Revenue Code.
: No, the cash price excludes any discount and/or rebate whatsoever during the tax period.