Republic Act No. 1510


PHILIPPINE LAWS, STATUTES, CODES & ISSUANCES


REPUBLIC ACT NO. 1510 - AN ACT TO FURTHER AMEND SECTION TWO HUNDRED FORTY-SIX OF THE NATIONAL INTERNAL REVENUE CODE BY PROVIDING THAT TEN PER CENTUM OF THE ROYALTIES ON MINERAL LANDS UNDER LEASE AND OF THE AD VALOREM TAXES ON THE OUTPUT OF MINERAL LANDS NOT COVERED BY LEASE SHALL ACCRUE TO THE MUNICIPALITY AND TEN PER CENTUM TO THE PROVINCE WHERE THE MINES ARE SITUATED.

REPUBLIC ACTS




REPUBLIC ACT NO. 1510

AN ACT TO FURTHER AMEND SECTION TWO HUNDRED FORTY-SIX OF THE NATIONAL INTERNAL REVENUE CODE BY PROVIDING THAT TEN PER CENTUM OF THE ROYALTIES ON MINERAL LANDS UNDER LEASE AND OF THE AD VALOREM TAXES ON THE OUTPUT OF MINERAL LANDS NOT COVERED BY LEASE SHALL ACCRUE TO THE MUNICIPALITY AND TEN PER CENTUM TO THE PROVINCE WHERE THE MINES ARE SITUATED.

Section 1. Sec. two hundred forty-six of Commonwealth Act Numbered Four hundred and sixty-six, known as the National Internal Revenue Code, as amended by Republic Act Numbered Eight hundred thirty-four, is further amended to read as follows:

"Sec. 246. Definition of the terms "gross output" Disposition of royalties and ad valorem taxes. The term "gross output" shall be interpreted as the actual market value of minerals or mineral products, or of bullion from each mine or mineral lands operated as a separate entity without any deduction for mining, milling, refining, transporting, handling, marketing, or any other expenses: Provided, however, That if the minerals or mineral products are sold or consigned abroad by the lessee or owner of the mine under C.I.F. terms, the actual cost of ocean freight and insurance shall be deducted. The output of any group of contiguous mining claims shall not be subdivided. Ten per centum of the royalties and ad valorem taxes herein provided shall accrue to the municipality and ten per centum to the province where the mines are situated, and eighty per centum to the National Treasury."

Sec. 2. This Act shall take effect upon its approval.

Approved: June 16, 1956





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REPUBLIC ACT NOS. 1501 - 1600                  

  • Republic Act No. 1501

  • Republic Act No. 1502

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  • Republic Act No. 1510

  • Republic Act No. 1511

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  • Republic Act No. 1598

  • Republic Act No. 1599

  • Republic Act No. 1600