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Section 158. Storage of Goods in Internal-revenue Bonded Warehouses - National Internal Revenue Code (NIRC)

Section 158. Storage of Goods in Internal-revenue Bonded Warehouses of National Internal Revenue Code (NIRC). Section 158. Storage of Goods in Internal-revenue Bonded Warehouses. - An internal-revenue bonded warehouse may be maintained in any port of entr

  • Subjects 9 Bar syllabus groups
  • Codals 48 Primary legal sources

National Internal Revenue Code (NIRC)

Section 158. Storage of Goods in Internal-revenue Bonded Warehouses. - An internal-revenue bonded warehouse may be maintained in any port of entry for the storing of imported or manufactured goods which are subject to excise tax. The taxes on such goods shall be payable only upon removal from such warehouse and a reasonable charge shall be made for their storage therein. The Commissioner, may, in his discretion, exact a bond to secure the payment of the tax on any goods so stored.

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