PHILIPPINE LAWS, STATUTES AND CODES - CHAN ROBLES VIRTUAL LAW LIBRARY
|REPUBLIC ACT NO. 868 - AN ACT TO
AMEND SECTION THREE OF REPUBLIC ACT NUMBERED SIX HUNDRED, ENTITLED "AN
ACT TO PRESCRIBE A GRADUATED SCALE FOR THE INCOME TAX ON CORPORATIONS
BY AMENDING SECTION TWENTY-FOUR AND FIFTY-FOUR OF COMMONWEALTH ACT
NUMBERED FOUR HUNDRED AND SIXTY-SIX, OTHERWISE KNOWN AS THE NATIONAL
INTERNAL REVENUE CODE, AS AMENDED, AND FOR OTHER PURPOSES"
| Section 1.
Sections three of Republic Act Numbered Six hundred is amended to read
"Sec. 3. The provisions of this Act shall apply to income received from January first, nineteen hundred and fifty-one to December thirty-one, nineteen hundred and fifty-four, after the expiration of which later date the provisions of Republic Act Numbered Five hundred and ninety amending sections twenty-four and fifty-four of the National Internal Revenue Code, as amended, shall be in full force and effect."
Sec. 2. This Act shall take effect upon its approval.
Approved: June 16, 1953