Republic Act No. 2390: An act to amend certain sections of commonwealth act numbered four hundred and sixty-six, otherwise known as the national internal revenue code, as amended.

Republic Act No. 2390

An act to amend certain sections of commonwealth act numbered four hundred and sixty-six, otherwise known as the national internal revenue code, as amended.

An Act to Amend Certain Sections of Commonwealth Act Numbered Four Hundred and Sixty-Six, Otherwise Known as the National Internal Revenue Code, as Amended.

In plain language

Republic Act No. 2376 amends sections of the National Internal Revenue Code to provide specific exemptions for certain classes of persons and commodities from the percentage tax, and to impose a percentage tax on construction-related contractors.

Amendment of Section 182 to add exemptions for low-income individuals and market vendors.

Amendment of Section 188 to exclude transactions of specified commodities from percentage tax.

Amendment of Section 191 to impose percentage tax on construction contractors and related businesses.

Tax law

Revenue

Exemptions

REPUBLIC ACT No. 2390

An Act Providing for the Establishment of a National Vocational School in the Municipality of Libertad, Province of Antique, and Authorizing the Appropriation of Funds Therefor

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

Section 1

There shall be established under the direct supervision of the Director of Public Schools a national vocational school in the Municipality of Libertad, Province of Antique, to be known as the Libertad National Vocational School.

Section 2

The sum of one hundred thousand pesos is hereby authorized to be appropriated, out of any funds in the National Treasury not otherwise appropriated, for the establishment, operation and maintenance of the said school for the fiscal year nineteen hundred sixty. Thereafter, the necessary appropriation for its operation shall be included in the annual General Appropriation Acts.

Section 3

This Act shall take effect upon its approval.

Approved: June 21, 1959.

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.