Amendment to R.A. No. 757 (Grant of Telephone System Franchise to Rafael Consing)
Republic Act No. 5932, enacted on June 21, 1969, amends Section 7 of Republic Act No. 757 regarding tax obligations of grantees of telephone or electrical transmission franchises. The amended section specifies that grantees, along with their successors and assigns, are liable for the same taxes on real estate, buildings, and personal property as other corporations. Additionally, they must pay 2% of their gross receipts from the business under this franchise to the Treasurer of the Philippines annually, within ten days after the accounts are audited and approved. This payment replaces other taxes, except for income taxes. The Act took effect upon its approval and was published in the Official Gazette on March 16, 1970.
Law Information
- Reference Number
- Republic Act No. 5932
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 21, 1969
REPUBLIC ACT NO. 5932
AN ACT AMENDING SECTION SEVEN OF REPUBLIC ACT NUMBERED SEVEN HUNDRED FIFTY-SEVEN
SECTION 1. Section seven of Republic Act Numbered Seven hundred fifty-seven is amended to read as follows: cd
"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. 2549 on March 16, 1970
Cite This Law
Amendment to R.A. No. 757 (Grant of Telephone System Franchise to Rafael Consing), Republic Act No. 5932, Jun 21, 1969 (Philippines)
Amendment to R.A. No. 757 (Grant of Telephone System Franchise to Rafael Consing), Republic Act No. 5932 (Phil. 1969)
Related Laws
- Grant of Franchise to Rafael Consing (Telephone System)Republic Act No. 757 • Jun 18, 1952 • Statutes
- Approval of Sale of Franchise of Rafael Consing (R.A. No. 757) to Marcelina S. AquinoRepublic Act No. 3971 • Jun 18, 1964 • Statutes
- Grant of Franchise to Rafael Consing (Telephone System)Republic Act No. 697 • May 9, 1952 • Statutes
- Approval of Sale of Franchise of Rafael Consing (R.A. No. 697) to Marcelina S. AquinoRepublic Act No. 3972 • Jun 18, 1964 • Statutes
- Grant of Franchise to Rafael Consing (Electric Light, Heat and Power System)Republic Act No. 971 • Jun 20, 1953 • Statutes
- Grant of Electric Light, Heat and Power System Franchise to Rafael ConsingRepublic Act No. 3003 • Jun 19, 1960 • Statutes
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