Amendment to Sec. 1 of Act No. 2916
Act No. 4140, approved on November 24, 1934, amends a previous law to exempt all bonds issued by the Manila Railroad Company and its predecessors from taxation in the Philippines. This exemption applies to both the bonds themselves and any income derived from them. The law aims to promote investment in the railroad sector by relieving it from government tax obligations. The act takes effect upon its approval.
Law Information
- Reference Number
- Act No. 4140
- Date Enacted
- Category
- Statutes
- Subcategory
- Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
November 24, 1934
ACT NO. 4140
AN ACT TO AMEND SECTION ONE OF ACT NUMBERED TWENTY-NINE HUNDRED AND SIXTEEN, EXEMPTING CERTAIN BONDS OF THE MANILA RAILROAD COMPANY OF THE PHILIPPINE ISLANDS FROM TAXATION
SECTION 1. Section one of Act Numbered Twenty-nine hundred and sixteen is hereby amended to read as follows:
"SECTION 1. Any bonds heretofore and hereafter issued by the Manila Railroad Company of the Philippine Islands and its predecessors, and all income directly derived therefrom shall be exempt from the payment of any tax of the Government of the Philippine Islands or any division or political subdivision of the same."
SECTION 2. This Act shall take effect on its approval.
Approved, November 24, 1934.
Cite This Law
Amendment to Sec. 1 of Act No. 2916, Act No. 4140, Nov 24, 1934 (Philippines)
Amendment to Sec. 1 of Act No. 2916, Act No. 4140 (Phil. 1934)
Related Laws
- Amendment to Sec. 1 of Act No. 3326Act No. 3585 • Nov 27, 1929 • Statutes
- Amendment to Sec. 1 of Act No. 3500Act No. 3637 • Dec 7, 1929 • Statutes
- Amendment to Sec. 1 of Act No. 1959, as AmendedAct No. 3542 • Nov 22, 1929 • Statutes
- Amendment to Sec. 1 of Act No. 3326Act No. 3763 • Nov 26, 1930 • Statutes
- An Act Exempting Certain Bonds of the "Manila Railroad Company of the Philippine Islands" from TaxationAct No. 2916 • Mar 23, 1920 • Statutes
- Amendment to Sec. 1 of Act No. 2957, as AmendedAct No. 3402 • Dec 5, 1927 • Statutes
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