Page:United States Statutes at Large Volume 53 Part 1.djvu/274

 TABLE OF CONTENTS CHAPTER 21-COCONuT AND OTHER VEGETABLE OILS Sec. 2470. Tax. Sec. 2471. Returns. Sec. 2472. Payment of tax. Sec. 2473. Sales to States or political subdivisions. Sec. 2474. Exportation. Sec. 2475. Addition to the tax in case of nonpayment. Sec. 2476. Collections covered into the Philippine Treasury. Sec. 2477. First domestic processing defined. Sec. 2478. Contracts prior to January 26, 1934. Sec. 2479. Other laws applicable. Sec. 2480. Covering of collections in the Treasury. See. 2481. Effective date of chapter. See. 2482. Publicity of returns. CHAPTER 21-COCONUT AND OTHER VEGE- TABLE OILS SEC. 2470. TAX. (a) RATE. - (1) IN GENERAL. -T here shall be imposed upon the first domes- tic processing of coconut oil, palm oil, palm-kernel oil, fatty acids derived from any of the foregoing oils, salts of any of the forego- ing (whether or not such oils, fatty acids, or salts have been refined, suiphonated, sulphated, hydrogenated, or otherwise processed), or any combination or mixture containing a substantial quantity of any one or more of such oils, fatty acids, or salts, a tax of 3 cents per pound to be paid by the processor. (2) ADDITIONAL RATE ON COCONUT oIL. -There shall be imposed (in addition to the tax imposed by the preceding paragraph) a tax of 2 cents per pound, to be paid by the processor, upon the first domestic processing of coconut oil or of any combination or mixture containing a substantial quantity of coconut oil with respect to which oil there has been no previous first domestic processing, except that the tax imposed by this sentence shall not apply when it is established, in accordance with regulations prescribed by the Commissioner with the approval of the Secretary, that such coconut oil (whether or not contained in such a combination or mixture), (A) is wholly the production of the Philippine Islands or any other possession of the United States, or (B) was produced wholly from materials the growth or production of the Philippine Islands or any other possession of the United States, or (C) was brought into the United States on or before June 9, 1934, or produced from materials brought into the United States on or before June 9 1934, or (D) was purchased under a bona fide contract entered into prior to April 26, 1934, or produced from materials purchased under a bona fide contract entered into prior to April 26, 1934. (b) EXEInPTION.- T he tax under subsection (a) shall not apply (1) with respect to any fatty acid or salt resulting from a previous first domestic processing taxed under this section or upon which an import tax has been paid under chapter 22, or (2) with respect to any combination or mixture by reason of its containing an oil, fatty acid, or salt with respect to which there has been a previous 264

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