Amendment to C.A. No. 466 Re: Equal Incentives to Agricultural, Fisheries, Minerals and Mineral Products
Republic Act No. 4888, enacted on June 17, 1967, amends Section 188 of Commonwealth Act No. 466 concerning the tax treatment of minerals and mineral products in the Philippines. Specifically, it exempts transactions involving minerals and mineral products from the percentage tax when sold, bartered, or exchanged by the lessee, concessionaire, or owner of the mineral land. The amendment aims to provide equal incentives across agricultural, fisheries, and mineral sectors. The Act took effect upon its approval and was published in the Official Gazette on November 6, 1967.
Law Information
- Reference Number
- Republic Act No. 4888
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 17, 1967
REPUBLIC ACT NO. 4888
AN ACT AMENDING SUBPARAGRAPH (c) OF THE FIRST PARAGRAPH OF SECTION ONE HUNDRED EIGHTY EIGHT OF COMMONWEALTH ACT NUMBERED FOUR HUNDRED SIXTY SIX AS AMENDED (RE: EQUAL INCENTIVES TO AGRICULTURAL, FISHERIES, MINERALS, AND MINERAL PRODUCTS)
SECTION 1. Subparagraph (c) of the first paragraph of Section one hundred eighty-eight of Commonwealth Act Numbered Four hundred sixty-six, as amended is hereby further amended as follows:
"Sec. 188. Transactions and persons not subject to percentage tax. — In computing the tax imposed in Sections One hundred eighty-four, One hundred eighty-five, and Hundred eighty-six transactions in the following commodities shall be excluded:
"(a) . . .
"(b) . . .
"(c) Minerals and mineral products, whether in their original state or not when sold, bartered, or exchanged by the lessee, concessionaire or owner of the mineral land from which removed. acd
xxx xxx xxx
SECTION 2. This Act shall take effect upon its approval.
Approved: June 17, 1967
Published in the Official Gazette, Vol. 63, No. 45, p. 10093 on November 6, 1967
Cite This Law
Amendment to C.A. No. 466 Re: Equal Incentives to Agricultural, Fisheries, Minerals and Mineral Products, Republic Act No. 4888, Jun 17, 1967 (Philippines)
Amendment to C.A. No. 466 Re: Equal Incentives to Agricultural, Fisheries, Minerals and Mineral Products, Republic Act No. 4888 (Phil. 1967)
Related Laws
- Amendment to C.A. No. 466 Re: Definition of "Minerals" and "Mineral Products"Republic Act No. 1299 • Jun 16, 1955 • Statutes
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- Amendment to NIRC Re: Accrual of Royalties on Mineral Lands and Ad Valorem Taxes to MunicipalitiesRepublic Act No. 834 • Mar 6, 1953 • Statutes
- Amendment and Repeal of Certain Sections of NIRC Re: Royalties and Ad Valorem Taxes on Certain Mineral LandsRepublic Act No. 909 • Jun 20, 1953 • Statutes
- Amending R.A. No. 1828 Re: Surigao Mineral Reservation BoardRepublic Act No. 2077 • Jun 13, 1958 • Statutes
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