Amendment to R.A. No. 697 (Grant of Telephone System Franchise to Rafael Consing)
Republic Act No. 5933 • Statutes • Republic Acts • Jun 21, 1969
Full text
June 21, 1969 REPUBLIC ACT NO. 5933 AN ACTAMENDING SECTION SEVEN OF REPUBLIC ACT NUMBERED SIXHUNDRED NINETY-SEVEN SECTION 1. Section seven of Republic Act Numbered Six hundred ninety-seven is amended to read as follows: cdt "Sec. 7. The grantee, its successors or assigns, shall be liable to pay the same taxes on its real estate, buildings, and personal property, exclusive of this franchise, as other persons or corporations are now or hereafter may be required by law to pay. In addition, the grantee, its successors or assigns, shall pay to the Treasurer of the Philippines each year, within ten days after the audit and approval of the accounts as prescribed in Section six of this Act, two per centum of all gross receipts of the telephone or other electrical transmission business transacted under this franchise by the grantee, its successors or assigns, and the said percentage shall be in lieu of other taxes, except income taxes." SECTION 2. This Act shall take effect upon its approval. Enacted without Executive approval, June 21, 1969. Published in the Official Gazette, Vol. 66, No. 11, p. 2550 on March 16, 1970
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.