An act to amend subparagraph (b) of the first paragraph of section one hundred eighty-eight of the national internal revenue code, as amended, regarding transactions and persons not subject to percentage tax.
AN ACT TO AMEND SUBPARAGRAPH (b) OF THE FIRST PARAGRAPH OF SECTION ONE HUNDRED EIGHTY-EIGHT OF THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED, REGARDING TRANSACTIONS AND PERSONS NOT SUBJECT TO PERCENTAGE TAX.
In plain language
Amends subparagraph (b) of section 188 of the National Internal Revenue Code to specify that agricultural products, ordinary salt, fish, and by-products sold, bartered or exchanged by producers and operators are exempt from percentage tax.
Subparagraph (b) of the first paragraph of section 188 is amended to read: "(b) Agricultural products and the ordinary salt when sold, bartered, or exchanged in this country by the producer or owner of the land where produced, as well as fish and its by-products when sold, bartered or exchanged by the fisherman or fishing operator, whether in their original state or not."
Tax law
NIRC
Exemption
Agricultural products
Fish
Salt
REPUBLIC ACT No. 1005
An Act Changing the Name of the Sitio of Mayamot, Barrio of Banga, Municipality of Plaridel, Province of Bulacan, to Bagong Silang
Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:
Section 1
The name of the Sitio of Mayamot, in the Barrio of Banga, Municipality of Plaridel, Province of Bulacan, is changed to Bagong Silang.
Section 2
This Act shall take effect upon its approval.
Approved: June 12, 1954.
For information and research only, and not legal advice. This text may not reflect later amendments. For certified copies, refer to the Official Gazette or the issuing agency.