PHILIPPINE LAWS, STATUTES, CODES & ISSUANCES
PHILIPPINE LAWS, STATUTES AND CODES
REPUBLIC ACTS
REPUBLIC ACT NO. 1291 - AN
ACT TO AMEND SECTION THREE OF REPUBLIC ACT NUMBERED SIX HUNDRED,
ENTITLED "AN ACT TO PRESCRIBE A GRADUATED SCALE FOR THE INCOME TAX ON
CORPORATIONS BY AMENDING SECTION TWENTY-FOUR AND FIFTY-FOUR OF
COMMONWEALTH ACT NUMBERED FOUR HUNDRED AND SIXTY-SIX, OTHERWISE KNOWN
AS THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED, AND FOR OTHER
PURPOSES" |
Section 1.
Section three of Republic Act Numbered Six hundred, as amended by
Republic Act Numbered Eight hundred and sixty-eight, and Republic Act
Numbered One thousand sixty-five, is further amended to read as
follows: Sec. 2. The provisions of this Act shall apply to income received from January first, nineteen hundred and fifty-one to December thirty-one, nineteen hundred and fifty-seven, after the expiration of which later date the provisions of sections twenty-four and fifty-four of the National Internal Revenue Code, as amended, shall again be in full force and effect. Sec. 3. This Act shall take effect upon its approval. Approved: June 15, 1955 |