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H. No. 3697 / 51 OG No. 7, 3361 (July, 1955)
[ REPUBLIC ACT NO. 1291, June 15, 1955 ]
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 SECTIONS 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."
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:
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:
Approved, June 15, 1955.
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. 3. 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. 2. This Act shall take effect upon its approval.
Approved, June 15, 1955.