Extension of Effectivity of R.A. No. 588
Republic Act No. 726, enacted on June 6, 1952, amends Section Eight of Republic Act No. 588 concerning the National Internal Revenue Code. The amendment specifies that the increased tax rates established by the previous act will remain in effect until December 31, 1953, unless further extended by Congress. After this date, the original tax rates will be reinstated. The Act takes effect immediately upon its approval.
June 6, 1952
REPUBLIC ACT NO. 726
AN ACT TO EXTEND THE EFFECTIVITY OF REPUBLIC ACT NUMBERED FIVE HUNDRED EIGHTY-EIGHT, BY AMENDING SECTION EIGHT THEREOF, ENTITLED "AN ACT TO AMEND CERTAIN SECTIONS OF COMMONWEALTH ACT NUMBERED FOUR HUNDRED AND SIXTY-SIX, OTHERWISE KNOWN AS THE NATIONAL INTERNAL REVENUE CODE"
SECTION 1. Section eight of Republic Act Numbered Five hundred eighty-eight is amended to read as follows:
"SEC. 8. This Act shall take effect upon its approval, but unless otherwise expressly extended by Congress, the increased tax provided for in this Act shall continue in force and effect only until December thirty-one, nineteen hundred and fifty-three, after which period the original rates of tax shall again be in force."
SECTION 2. This Act shall take effect upon its approval.
Approved: June 6, 1952
Published in the Official Gazette, Vol. 48, No. 7 in July 1952