An Act to Repeal Subsection (B) of Section One Hundred and Eighty-Four and to Amend Subsection (A) of Section One Hundred and Eighty-Five of Commonwealth Act Numbered Four Hundred and Sixty-Six
Commonwealth Act No. 525, enacted on May 10, 1940, repeals subsection (b) of Section 184 and amends subsection (a) of Section 185 of Commonwealth Act No. 466. The amendment specifies that automobile chassis and bodies priced at 2,500 pesos or less are exempt from additional taxation, while any amount exceeding this price will be taxed according to Section 184. Furthermore, a sale of an automobile includes both the chassis and the body along with standard parts and accessories. The Act becomes effective upon its approval.
Law Information
- Reference Number
- Commonwealth Act No. 525
- Date Enacted
- Category
- Statutes
- Subcategory
- Commonwealth Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
May 10, 1940
COMMONWEALTH ACT NO. 525
AN ACT TO REPEAL SUBSECTION (b) OF SECTION ONE HUNDRED AND EIGHTY-FOUR AND TO AMEND SUBSECTION (a) OF SECTION ONE HUNDRED AND EIGHTY-FIVE OF COMMONWEALTH ACT NUMBERED FOUR HUNDRED AND SIXTY-SIX
SECTION 1. Subsection (b) of section one hundred and eighty-four of Commonwealth Act Numbered Four hundred and sixty-six is repealed.
SECTION 2. Subsection (a) of section one hundred and eighty-five of the same Act is amended to read as follows:
"(a) Automobile chassis and bodies, the selling price of which does not exceed two thousand five hundred pesos each: Provided, That if the selling price of an automobile exceeds two thousand five hundred pesos, the excess amount shall also be taxed in accordance with the provisions of section one hundred and eighty-four hereof. A sale of automobile shall, for the purposes of this section, be considered to be a sale of the chassis and of the body together with parts and accessories with which the same are usually equipped;" TaDSCA
SECTION 3. This Act shall take effect upon its approval.
Approved, May 10, 1940.
Cite This Law
An Act to Repeal Subsection (B) of Section One Hundred and Eighty-Four and to Amend Subsection (A) of Section One Hundred and Eighty-Five of Commonwealth Act Numbered Four Hundred and Sixty-Six, Commonwealth Act No. 525, May 10, 1940 (Philippines)
An Act to Repeal Subsection (B) of Section One Hundred and Eighty-Four and to Amend Subsection (A) of Section One Hundred and Eighty-Five of Commonwealth Act Numbered Four Hundred and Sixty-Six, Commonwealth Act No. 525 (Phil. 1940)
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