The fixed annual tax shall be payable before the person subject to the same begins to engage in the business, and thereafter within the regulation period in the month of January during which the other fixed privilege taxes may be paid without penalty. The following shall be exempt from the tax imposed in this section: ( a ) Persons engaged in public market places in the sale of food products at retail, and other small merchants whose gross quarterly sales do not exceed two hundred pesos. ( b ) Peddlers and sellers at fixed stands of fruit, produce, and food, raw or otherwise, the total selling value whereof does not exceed three pesos per day and who do not renew their stock oftener than once every twenty-four hours. ( c ) Producers of commodities of all classes working in their own homes, consisting of parents and children living as one family, when the value of each day's production by each person capable of working is not in excess of one peso. ( d ) Owners of a single two-wheeled vehicle habitually driven by themselves. TCEaDI ( e ) Owners of a single banca habitually operated by themselves. [2541-1, 2; 2622-1.] S ECTION  1613 . Payment of Percentage Taxes — Quarterly Report of Earnings . — The percentage taxes on business shall be payable at the end of each calendar quarter in the amount lawfully due on the business transacted during each quarter; and it shall be the  duty of every person conducting a business subject to such tax, within the same period as is allowed for the payment of the quarterly installments of the fixed taxes without penalty, to make a true and complete return of the amount of the receipts or earn ings of his business during the preceding quarter and pay the tax due thereon. If the percentage tax on any business is not paid within the time prescribed above the amount of the tax shall be increased by twenty-five per centum, the increment to be a part of the tax. [2339-39.] S ECTION  1614 . Percentage Tax on Merchants' Sales . — All merchants Copyright 2012 CD Technologies Asia, Inc. and Accesslaw, Inc. Philippine Law Encyclopedia 2011 481