Evening star., 1933-03-17

from which processed II the processing
had occurred on such date.
ca Whenever the processing tax Is
wholly terminated, there shall be re-
funded to such person . tax Cor II 1t
has not been paid, the tax shall be
abated) in an amount equivalent to the
processing tax with respect to the COM
modify from which processed.
90 Notwithstanding the provisions Of
subsection (a), such subsection shall ap-
ply with respect to such portion Of retail
stocks on hand at the date the pro-
cessing tax takes effect. as Is not sold
or otherwise disposed of for consump-
ticn within one month after such date.
Expectations.
Sec. II. (a) Upon the expectation to
any foreign country (including the
Philippine Islands, the Virgin Islands,
American Samoa and the Island of
Guam) Of any product with respect to
which tax has peen paid under this
act, or Of any product processed wholly
or in chief value from q commodity
with respect to which tax has been
paid under this act, the exporter thereof
tion to refund of the amount Of such
tax.
(b) Upon the giving Of satisfactory
bond for the faithful observance Of the
provisions of this act requiring the pay
ment Of taxes, any person shall be en-
titled, without payment Of the tax to
process for such expectation any COM
modify with respect to which tax Is
imposed by this act. or to hold for such
expectation any article processed wholly
or In chief value therefrom.
Existing ContractA
Sec. 18. (a) If 0) any professor, Job
ber or wholesaler has, prior to the date
Of approval Of this act, made q bona
flde contract of sale for delivery after
such date Of any article in respect Of
which tax Is imposed under this act,
and if (2) such contract does not permit
the addition to the amount to be paid
hereunder Of the whole Of such tax,
then (unless the contract prohibits such
addition) the vendee shall pay so much
Of the tax as is not permitted to be
added to the contract price.
(b) Taxes payable by the vendee shall
be paid to the vendor at the time the
sale Is consummated and shall be COL
lected and paid to the United States by
the vendor in the same manner as other
taxes under this act: In case of failure
or refusal by the vendee to pay such
taxes to the vendor. the vendor shall re-
port the facts to the Commissioner of
Internal Revenue who shall cause COL
lections Of such taxes to be made from
the vendee.
Collection Of Taxes
Sec. 10. (a) The taxes provided in
this act shall be collected by the Bureau
Of Mt
OF the Secretary Of the Treasury. Such
taxes shall be paid into the Treasury of
the United States.
(b) All provisions Of law, including
penalties, applicable with respect to the
taxes imposed by section 900 Of the
revenue act Of 1926, and the provisions
OF section 626 Of the revenue act Of
1882. shall, in so far as applicable and
not inconsistent with the provisions Of
this act. be applicable In respect Of taxes
imposed by this act. Provided, That
the Secretary Of the Treasury Is author
lied to permit postpOnement for q
period not exceeding 60 days, OF the
payment Of taxes covered by any return
under this act
Co In order that the payment Of
taxes under this act may not impose
any immediate undue financial burden
uPoil PioCcSSOIS, any professor subject
to such taxes shall be eligible for loans
from the Reconstruction Finance Cor
poration under section of the Recon-
struction Finance Corporation act.
Compensating Duties.
Sec. 20. (a) During any period for
which processing tax Is in effect with
respect to any commodity there shall be
levied, assessed. collected and paid upon
the importation. from any foreign
country into the United States of goods
prOcessed or manufactured wholly or in
chief value from such commodity which,
If domestically processed, would be sub
Ject to processing tax. duty equal to
the amount Of the tax which would be
payable with respect to such domestic
processing at the time Of importation.
Such duty shall be in addition to any
other duty imposed by law.
tb) The duties imposed by this sec
tion shall be levied. assessed, collected
and paid in the same manner as duties
imposed by the tarin act of 1890, and
shall be treated. for the purpose of all
provisions of the law relating to the
customs revenue, as duties imposed by
such act.
tc) AS used in this section the term
United States" means the United
States and its possessions. except the
Philippine Islands, the Virgin Islands,
American Samoa and the Island of
Guam.