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AAC Tax Code.

The National Internal Revenue Code of 1997 as it currently stands — consolidated by the firm to carry the TRAIN Law, the CREATE Act, the Ease of Paying Taxes Act, the VAT on Digital Services Act, CREATE MORE, the CMEPA and the amendatory laws in force to 1 August 2026, with a footnote at every provision naming the law that changed it.

Text current as at 1 August 2026. This is an unofficial consolidation prepared by the firm and not the official text of the Code. Repealed provisions are kept, struck through, so that references in earlier records stay traceable.
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The printed edition runs to 240 pages and carries the same text, footnotes and references as the browser below. Every section here shows the page it sits on in that PDF, so a citation taken from the screen matches the one taken from the book.

TITLE VI — EXCISE TAXES ON CERTAIN GOODS › PERSONS DEALING IN ARTICLES SUBJECT TO EXCISE TAX

SEC. 153. Records to be Kept by Manufacturers; Assessment Based Thereon

Page 132 of the PDF edition

Manufacturers of articles subject to excise tax shall keep such records as required by rules and regulations recommended by the Commissioner and approved by the Secretary of Finance, and such records, whether of raw materials received into the factory or of articles produced therein, shall be deemed public and official documents for all purposes.

The records of raw materials kept by such manufacturers may be used as evidence by which to determine the amount of excise taxes due from them, and whenever the amounts of raw materials received into any factory exceeds the amount of manufactured or partially manufactured products on hand and lawfully removed from the factory, plus waste removed or destroyed, and a reasonable allowance for unavoidable loss in manufacture, the Commissioner may assess and collect the tax due on the products which should have been produced from the excess.

The excise tax due on the products as determined and assessed in accordance with this Section shall be payable upon demand or within the period specified therein.

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