Extension of Effectivity of R.A. No. 589 (Amendment to NIRC)
Republic Act No. 955, approved on June 20, 1953, amends Section Seven of Republic Act No. 589, which pertains to the National Internal Revenue Code. The amendment specifies that the increased tax rates established by the earlier act will remain in effect until December 31, 1954, unless Congress decides to extend them. This law takes effect immediately upon approval. Additionally, it was published in the Official Gazette in September 1953.
Law Information
- Reference Number
- Republic Act No. 955
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 20, 1953
REPUBLIC ACT NO. 955
AN ACT TO EXTEND THE EFFECTIVITY OF REPUBLIC ACT NUMBERED FIVE HUNDRED AND EIGHTY-NINE, BY FURTHER AMENDING SECTION SEVEN THEREOF, ENTITLED "AN ACT TO AMEND SECTIONS ONE HUNDRED AND THIRTY-THREE, ONE HUNDRED AND THIRTY-FOUR, ONE HUNDRED AND THIRTY-FIVE, ONE HUNDRED AND THIRTY-SEVEN, ONE HUNDRED AND FORTY, AND ONE HUNDRED AND FORTY-SEVEN OF COMMONWEALTH ACT NUMBERED FOUR HUNDRED AND SIXTY-SIX, OTHERWISE KNOWN AS THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED"
SECTION 1. Section seven of Republic Act Numbered Five hundred and eighty-nine, as amended by Republic Act Numbered Seven hundred and twenty-four, is further amended to read as follows: cd
"Sec. 7. This Act shall take effect upon its approval but, unless otherwise expressly extended by Congress, the increased rates of tax provided for in this Act shall continue in force and effect only until December thirty-one, nineteen hundred and fifty-four, after which period the actual rates of tax shall again be in force."
SECTION 2. This Act shall take effect upon its approval.
Approved: June 20, 1953
Published in the Official Gazette, Vol. 49, No. 9, p. 3801 in September 1953
Cite This Law
Extension of Effectivity of R.A. No. 589 (Amendment to NIRC), Republic Act No. 955, Jun 20, 1953 (Philippines)
Extension of Effectivity of R.A. No. 589 (Amendment to NIRC), Republic Act No. 955 (Phil. 1953)
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