An Act Changing the Official Fiscal Year from the Period January First to December Thirty-First of the Calendar Year to the Period from July First of Each Calendar Year to June Thirtieth of the Calendar Year Immediately Following
Commonwealth Act No. 373, enacted on August 23, 1938, changes the official fiscal year of the Government of the Commonwealth of the Philippines from January 1 to December 31 to a new period running from July 1 to June 30 of the following year. The amendment to Section 602 of the Administrative Code reflects this change, and all references to the previous fiscal year ending on December 31 will now refer to the new June 30 fiscal year. Reports required by government officials will need to be submitted after July 1, covering the previous fiscal year ending June 30. The transition begins with the fiscal year 1939, which will conclude on June 30, 1939, and subsequent years will follow this new schedule. This act takes effect on July 1, 1939.
Quick Answers
- What is An Act Changing the Official Fiscal Year from the Period January First to December Thirty-First of the Calendar Year to the Period from July First of Each Calendar Year to June Thirtieth of the Calendar Year Immediately Following about?
- Commonwealth Act No. 373, enacted on August 23, 1938, changes the official fiscal year of the Government of the Commonwealth of the Philippines from January 1 to December 31 to a new period running from July 1 to June 30 of the following year. The amendment to Section 602 of the Administrative Code reflects this change, and all references to the previous fiscal year ending on December 31 will now refer to the new June 30 fiscal year. Reports required by government officials will need to be submitted after July 1, covering the previous fiscal year ending June 30. The transition begins with the fiscal year 1939, which will conclude on June 30, 1939, and subsequent years will follow this new schedule. This act takes effect on July 1, 1939.
- What type of law is Commonwealth Act No. 373?
- An Act Changing the Official Fiscal Year from the Period January First to December Thirty-First of the Calendar Year to the Period from July First of Each Calendar Year to June Thirtieth of the Calendar Year Immediately Following (Commonwealth Act No. 373) is a Philippine Statutes enacted by the Congress of the Philippines.
- When was An Act Changing the Official Fiscal Year from the Period January First to December Thirty-First of the Calendar Year to the Period from July First of Each Calendar Year to June Thirtieth of the Calendar Year Immediately Following enacted?
- An Act Changing the Official Fiscal Year from the Period January First to December Thirty-First of the Calendar Year to the Period from July First of Each Calendar Year to June Thirtieth of the Calendar Year Immediately Following (Commonwealth Act No. 373) was enacted on Aug 23, 1938.
- What is the citation for An Act Changing the Official Fiscal Year from the Period January First to December Thirty-First of the Calendar Year to the Period from July First of Each Calendar Year to June Thirtieth of the Calendar Year Immediately Following?
- An Act Changing the Official Fiscal Year from the Period January First to December Thirty-First of the Calendar Year to the Period from July First of Each Calendar Year to June Thirtieth of the Calendar Year Immediately Following, Commonwealth Act No. 373, Aug 23, 1938 (Philippines)
Law Information
- Reference Number
- Commonwealth Act No. 373
- Date Enacted
- Category
- Statutes
- Subcategory
- Commonwealth Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
August 23, 1938
COMMONWEALTH ACT NO. 373
AN ACT CHANGING THE OFFICIAL FISCAL YEAR FROM THE PERIOD JANUARY FIRST TO DECEMBER THIRTY-FIRST OF THE CALENDAR YEAR TO THE PERIOD FROM JULY FIRST OF EACH CALENDAR YEAR TO JUNE THIRTIETH OF THE CALENDAR YEAR IMMEDIATELY FOLLOWING
SECTION 1. Section six hundred and two of the Administrative Code, is amended so as to read as follows: HEIcDT
"SEC. 602. Official fiscal year. — The fiscal year of all branches of the Government of the Commonwealth of the Philippines shall be the period beginning with the first day of July of each calendar year and ending with the thirtieth day of June of the calendar year immediately following."
SECTION 2. Wherever in any law of the Philippines any word or expression is used which hitherto has been construed to mean or to refer to a fiscal year ending with the thirty-first day of December, the same shall hereafter be construed to mean or to refer to a fiscal year as hereinbefore defined, when applied to any period of twelve months after the thirtieth day of June, nineteen hundred and thirty-nine; and wherever the words "thirty-first day of December" appear as denoting the last day of fiscal year, the words "thirtieth day of June" shall be considered as substituted for the same purposes of construction.
SECTION 3. All reports and statements covering the fiscal year heretofore required by law to be rendered annually by any officer of the Government of the Commonwealth of the Philippines or of any branch thereof, and of the government of any political division or subdivision of the Philippines, shall be rendered as soon as practicable after the first of July of each year and shall cover the fiscal year ending June thirtieth immediately preceding, except the reports to be rendered after the first of July of nineteen hundred and thirty-nine, which shall cover only the six months beginning January first, nineteen hundred and thirty-nine and ending on June thirtieth, nineteen hundred and thirty-nine.
SECTION 4. The fiscal year nineteen hundred and thirty-nine shall terminate on June thirtieth, nineteen hundred and thirty-nine. The fiscal year beginning July first, nineteen hundred and thirty-nine and ending on June thirtieth, nineteen hundred forty shall be known as "the fiscal year nineteen hundred and forty."
SECTION 5. This Act shall take effect on July first, nineteen hundred and thirty-nine.
Approved, August 23, 1938.
Cite This Law
An Act Changing the Official Fiscal Year from the Period January First to December Thirty-First of the Calendar Year to the Period from July First of Each Calendar Year to June Thirtieth of the Calendar Year Immediately Following, Commonwealth Act No. 373, Aug 23, 1938 (Philippines)
An Act Changing the Official Fiscal Year from the Period January First to December Thirty-First of the Calendar Year to the Period from July First of Each Calendar Year to June Thirtieth of the Calendar Year Immediately Following, Commonwealth Act No. 373 (Phil. 1938)
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