Amendments to Act No. 2711 (Revised Administrative Code)
Act No. 3963, enacted on December 2, 1932, amends specific provisions of the Revised Administrative Code regarding lending investors. It establishes tax rates for lending investors based on the classification of municipalities, with set amounts ranging from fifty to two hundred pesos depending on the municipality's class. Additionally, lending investors operating in multiple provinces are required to pay a flat tax of two hundred pesos, and their business is exempt from municipal taxation. The definition of "lending investor" is also clarified to include individuals who lend money at interest. This Act became effective upon its approval.
Law Information
- Reference Number
- Act No. 3963
- Date Enacted
- Category
- Statutes
- Subcategory
- Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
December 2, 1932
ACT NO. 3963
AN ACT TO AMEND PARAGRAPH (x) OF SECTION FOURTEEN HUNDRED AND SIXTY-FOUR AND PARAGRAPH (v) OF SECTION FOURTEEN HUNDRED AND SIXTY-FIVE, BOTH OF THE REVISED ADMINISTRATIVE CODE, AND FOR OTHER PURPOSES
SECTION 1. Paragraph (x) of section fourteen hundred and sixty-four of the Revised Administrative Code is hereby amended so as to read as follows:
"(x) Lending investors:
"1. In chartered cities and first-class municipalities, two hundred pesos;
"2. In second-class municipalities, one hundred fifty pesos;
"3. In third-class municipalities, one hundred pesos;
"4. In fourth and fifth-class municipalities, townships and municipal districts, fifty pesos;
"Provided, That lending investors who do business as such in more than one province shall pay a tax of two hundred pesos: And provided, further, That the business of lending investors shall be exempt from municipal taxation."
SECTION 2. Paragraph (v) of section fourteen hundred and sixty-five of the Revised Administrative Code is hereby amended so as to read as follows:
"(v) 'Lending investor' includes all persons who make a practice of lending money for themselves or others at interest."
SECTION 3. This Act shall take effect on its approval.
Approved, December 2, 1932.
Cite This Law
Amendments to Act No. 2711 (Revised Administrative Code), Act No. 3963, Dec 2, 1932 (Philippines)
Amendments to Act No. 2711 (Revised Administrative Code), Act No. 3963 (Phil. 1932)
Related Laws
- Amendments to Act No. 2711 (Revised Administrative Code)Act No. 3576 • Nov 27, 1929 • Statutes
- Amendments to Act No. 2711 (Revised Administrative Code)Act No. 4093 • Nov 19, 1933 • Statutes
- Amendments to Act No. 2711 (Revised Administrative Code, as Amended)Act No. 3956 • Dec 1, 1932 • Statutes
- Amendments to Act No. 2711 (Revised Administrative Code, as Amended)Act No. 4023 • Dec 8, 1932 • Statutes
- Amendments to Act No. 2711 (Revised Administrative Code)Act No. 3457 • Dec 3, 1928 • Statutes
- Amendments to Act No. 2711 (Revised Administrative Code, as Amended)Act No. 3911 • Nov 20, 1931 • Statutes
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