Republic Act No. 570, approved on August 31, 1950, amends Section 15 of Republic Act No. 56 regarding the taxation of mineral oils used in aviation. It stipulates that 50% of the specific tax paid on these oils will be refunded by the Collector of Internal Revenue for a period of five years, provided that a sworn certificate is submitted proving their use in aviation. However, no refunds will be granted for oils used by foreign citizens or corporations unless equivalent refunds are offered by their countries. The Act takes effect upon approval and was published in the Official Gazette in December 1950.
August 31, 1950
REPUBLIC ACT NO. 570
AN ACT TO AMEND SECTION FIFTEEN OF REPUBLIC ACT NUMBERED FIFTY-SIX RELATIVE TO THE TAX ON MINERAL OILS USED IN AVIATION
SECTION 1. Section fifteen of Republic Act Numbered Fifty-six is hereby amended to read as follows:
"Sec. 15. Whenever any of the oils mentioned in section one hundred and forty-two of Commonwealth Act Numbered Four hundred and sixty-six are, during the period of five years from the effective date of this Act, used in aviation, fifty per centum of the specific tax paid thereon shall be refunded by the Collector of Internal Revenue upon the submission of a sworn certificate satisfactory to him proving that the said oils were actually used in aviation. No such refund shall be granted in respect to the oils used in aviation by citizens and corporations of foreign countries which do not grant equivalent refunds or exemptions in respect to similar oils used in aviation by citizens and corporations of the Philippines." cd
SECTION 2. This Act shall take effect upon its approval.
Approved: August 31, 1950
Published in the Official Gazette, Vol. 46, No. 12, p. 5943 in December 1950