Amendment to R.A. No. 588 Re: Effectivity of Tax Provisions
Republic Act No. 1280, approved on June 14, 1955, amends Section 8 of Republic Act No. 588, which relates to the National Internal Revenue Code. The amendment stipulates that the increased tax rates introduced by the Act will remain effective until June 30, 1957, unless Congress decides to extend them. After this date, the original tax rates will be reinstated. The law takes effect immediately upon approval and was published in the Official Gazette in July 1955.
Law Information
- Reference Number
- Republic Act No. 1280
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 14, 1955
REPUBLIC ACT NO. 1280
AN ACT TO AMEND SECTION EIGHT OF REPUBLIC ACT NUMBERED FIVE HUNDRED AND EIGHTY-EIGHT, ENTITLED "AN ACT TO AMEND CERTAIN SECTIONS OF COMMONWEALTH ACT NUMBERED FOUR HUNDRED AND SIXTY-SIX, OTHERWISE KNOWN AS THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED"
SECTION 1. Section eight of Republic Act Numbered Five hundred and eighty-eight, as amended by Republic Act Numbered Seven hundred and twenty-six, Republic Act Numbered Nine hundred and fifty-eight, and Republic Act Numbered One thousand ninety-one, is further amended to read as follows:
"SEC. 8. The provisions of this Act shall take effect upon its approval, but, unless otherwise expressly extended by Congress, the increased taxes provided for in this Act shall continue in force and effect only until June thirty, nineteen hundred and fifty-seven, after which period the original rates of tax shall again be in force." cd i
SECTION 2. This Act shall take effect upon its approval.
Approved: June 14, 1955
Published in the Official Gazette, Vol. 51, No. 7, p. 3352 in July 1955
Cite This Law
Amendment to R.A. No. 588 Re: Effectivity of Tax Provisions, Republic Act No. 1280, Jun 14, 1955 (Philippines)
Amendment to R.A. No. 588 Re: Effectivity of Tax Provisions, Republic Act No. 1280 (Phil. 1955)
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