Tax Exemption for World Championship Boxing Exhibitions
Republic Act No. 1812, enacted on June 22, 1957, amends the National Internal Revenue Code to exempt certain boxing exhibitions from amusement tax. Specifically, boxing matches where a world championship title is contested will be tax-exempt if at least one contender is a Filipino citizen and the event is promoted by Filipino citizens or entities with at least 60% Filipino ownership. This law aims to support local boxing promotions and athletes. It took effect upon approval and was published in the Official Gazette on September 15, 1957.
Law Information
- Reference Number
- Republic Act No. 1812
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 22, 1957
REPUBLIC ACT NO. 1812
AN ACT TO EXEMPT FROM AMUSEMENT TAX, UNDER CERTAIN CONDITIONS, BOXING EXHIBITIONS WHEREIN WORLD CHAMPIONSHIP IN ANY DIVISION IS AT STAKE, AMENDING FOR THE PURPOSE THE NATIONAL INTERNAL REVENUE CODE
SECTION 1. The National Internal Revenue Code is amended by inserting between sections two hundred sixty-B and two hundred sixty-one thereof the following new section:
"Sec. 260-C. Certain boxing exhibitions exempted. — Boxing exhibitions wherein world championship in any division is at stake shall be exempt from amusement tax: Provided, That at least one of the contenders for world championship is a citizen of the Philippines, and said exhibitions are promoted by a citizen or citizens of the Philippines or by a corporation or association at least sixty per cent of the capital of which is owned by such citizens."
SECTION 2. This Act shall take effect upon its approval. cd i
Approved: June 22, 1957
Published in the Official Gazette, Vol. 53, No. 17, p. 5581 on September 15, 1957
Cite This Law
Tax Exemption for World Championship Boxing Exhibitions, Republic Act No. 1812, Jun 22, 1957 (Philippines)
Tax Exemption for World Championship Boxing Exhibitions, Republic Act No. 1812 (Phil. 1957)
Related Laws
- Amendment to NIRC Re: Amusement Tax on Boxing ExhibitionsRepublic Act No. 991 • Jun 4, 1954 • Statutes
- An Act to Regulate Sparring or Boxing Exhibitions in the Philippine Islands, Repeals Act Numbered Five Hundred and Fifty-Seven of the Philippine Commission, and for Other PurposesAct No. 2984 • Feb 23, 1921 • Statutes
- An Act Punishing Prize Fighting and Sparring or Boxing ExhibitionsAct No. 557 • Dec 16, 1902 • Statutes
- Amusement Tax Exemption to Athletic Meets, School Programs and ExhibitionsRepublic Act No. 1284 • Jun 14, 1955 • Statutes
- Exemption from Amusement Tax of the World Title Fight Between Rolando Navarette and Choi Chung ILLetter of Instructions No. 1185 • Jan 12, 1982 • Presidential Issuances
- Gerry Peñalosa vs. Lee Seung Koo World Boxing Council Superflyweight Title FightAdministrative Order No. 328 • Apr 18, 1997 • Presidential Issuances
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