[1946 RA 55] AN ACT TO IMPOSE A WAR PROFITS TAX

Sec. 7. Lien of the tax. The amount of the tax herein imposed shall constitute a superior lien in favor of the Government on all property acquired by the taxpayer during the period from December 8, 1941 to February 26, 1945. This lien shall be effective as of August 2, 1946. In case the lien established in the next preceding paragraph should be declared ineffective with respect to any mortgage, purchaser or judgment creditor, then the said lien shall be effective on the date of the approval of this Act. Sec. 8. Penalty. Any individual or responsible officer of a partnership, company or corporation violating any provision of this Act or of the regulations promulgated hereunder, or any person conniving with such individual or responsible officer for the purpose of evading the tax herein imposed, shall, upon conviction, be punished by imprisonment from five years to twenty years or a fine of not less than five thousand pesos but not more than thirty thousand pesos, or both, in the discretion of the court. Sec. 9. Administrative remedies. All administrative, special and general provisions of law including the laws in relation to the assessment, remission, collection and refund of national internal revenue taxes, not inconsistent with the provisions of this Act, are hereby extended and made applicable to all the provisions of this law, and to the tax herein imposed. Sec. 10. Separability clause. If any clause, sentence, paragraph or part of this Act shall be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair or invalidate the remainder of this Act, but shall be confined in its operations to the clause, sentence, paragraph or part thereof directly involved in the controversy. Sec. 11. Appropriation of funds. The amount of fifty thousand pesos or so much thereof as may be necessary is hereby appropriated out of any funds in the National Treasury not otherwise appropriated to cover traveling and other expenses in connection with the enforcement of the provisions of this Act: Provided, however, That no part of his appropriation shall be used for salaries of additional personnel. Sec. 12. Effectivity. This Act shall take effect upon its approval. Approved: October 15, 1946