Amending R.A. No. 600 Re: Graduated Scale for Corporate Income Tax ( Republic Act No. 868 )

June 16, 1953

REPUBLIC ACT NO. 868

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"

SECTION 1. Sections three of Republic Act Numbered Six hundred is amended to read as follows: cd i

"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-four, after the expiration of which later date the provisions of Republic Act Numbered Five hundred and ninety amending sections twenty-four and fifty-four of the National Internal Revenue Code, as amended, shall be in full force and effect."

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

Approved: June 16, 1953

Published in the Official Gazette, Vol. 49, No. 6, p. 2146 in June 1953