Amendment to Subsection 4 of Section 144 of Act No. 1189 Re: Increase in License Tax on Pawnbrokers
Act No. 1897, enacted on May 17, 1909, amends the Internal Revenue Law of 1904 by increasing the license tax for pawnbrokers to four hundred pesos. It defines a pawnbroker as any individual or entity that accepts personal property as collateral for loans, excluding agricultural products. The new tax rate is set to take effect on July 1, 1909. This amendment aims to regulate the pawnbroking industry and enhance revenue collection.
Law Information
- Reference Number
- Act No. 1897
- Date Enacted
- Category
- Statutes
- Subcategory
- Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
May 17, 1909
ACT NO. 1897
AN ACT AMENDING SUBSECTION FOUR OF SECTION ONE HUNDRED AND FORTY-FOUR OF ACT NUMBERED ELEVEN HUNDRED AND EIGHTY-NINE, KNOWN AS "THE INTERNAL REVENUE LAW OF NINETEEN HUNDRED AND FOUR," INCREASING THE LICENSE TAX ON PAWNBROKERS
SECTION 1. Subsection number four of section one hundred and forty-four of Act Numbered Eleven hundred and eighty-nine, known as "The Internal Revenue Law of Nineteen hundred and four," is hereby amended to read as follows:
"4. Every pawnbroker shall pay four hundred pesos. Every person, firm, or company whose business or occupation it is to take or receive by way of pledge or pawn, any goods, wares, or merchandise or any kind of personal property whatever, except agricultural products, as security for the repayment of money loaned thereon, shall be regarded as a pawnbroker."
SECTION 2. This Act shall take effect on July first, nineteen hundred and nine. mNBCoc
Enacted: May 17, 1909
Cite This Law
Amendment to Subsection 4 of Section 144 of Act No. 1189 Re: Increase in License Tax on Pawnbrokers, Act No. 1897, May 17, 1909 (Philippines)
Amendment to Subsection 4 of Section 144 of Act No. 1189 Re: Increase in License Tax on Pawnbrokers, Act No. 1897 (Phil. 1909)
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