Republic Act No. 1284: An act to amend section seven of republic act numbered five hundred and sixty-seven, entitled 'an act to amend title vi of commonwealth act numbered four hundred and sixty-six, otherwise known as the national internal revenue code, as amended'

Republic Act No. 1284

An act to amend section seven of republic act numbered five hundred and sixty-seven, entitled 'an act to amend title vi of commonwealth act numbered four hundred and sixty-six, otherwise known as the national internal revenue code, as amended'

An Act to Amend Section Seven of Republic Act Numbered Five Hundred and Sixty-Seven, Entitled 'An Act to Amend Title VI of Commonwealth Act Numbered Four Hundred and Sixty-Six, Otherwise Known as the National Internal Revenue Code, as Amended'

In plain language

This act amends Section 7 of RA 567 to specify that the new tax provisions take effect upon approval and continue until June 30, 1957, after which the original tax rates resume. The act also states that it takes effect upon approval.

Amendment to Section 7 of RA 567

New tax provisions take effect upon approval

Tax rates continue until June 30, 1957

Original rates resume after June 30, 1957

Tax Law

Revenue Code

Republic Act

Amendment

REPUBLIC ACT No. 1284

An Act to Exempt from Amusement Tax All Athletic Meets, School Programs and Exhibitions, and Other Educational Activities Conducted by Public Schools, by Amending the National Internal Revenue Code

Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:

Section 1

The National Internal Revenue Code is hereby amended by inserting between section two hundred sixty-A and section two hundred sixty-one thereof the following new section:

"Sec. 260-B. Athletic meets, school programs and exhibitions, and other educational activities conducted by public schools exempted. All athletic meets, school programs and exhibitions, and other educational activities conducted by any public school to which admission fees are charged shall be exempt from amusement tax: Provided, That the net proceeds therefrom shall accrue to the athletic fund or library fund of the school in the discretion of the school authorities.

Section 2

This Act shall take effect upon its approval.

Approved: June 14, 1955.

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.