Republic Act No. 2662: An act to amend subsection (h), section one hundred eighty-five of commonwealth act numbered four hundred sixty-six, otherwise known as the national internal revenue code

Republic Act No. 2662

An act to amend subsection (h), section one hundred eighty-five of commonwealth act numbered four hundred sixty-six, otherwise known as the national internal revenue code

An Act to Amend Subsection (h), Section One Hundred Eighty-Five of Commonwealth Act Numbered Four Hundred Sixty-Six, Otherwise Known as the National Internal Revenue Code

In plain language

Amends subsection (h) of Section 185 of Commonwealth Act No. 466 by exempting a tax on .22-caliber firearms and ammunition sold or delivered directly to the Armed Forces of the Philippines and other government entities engaged in peace and order.

Exemption of tax on .22-caliber firearms and cartridges for the Armed Forces of the Philippines

Exemption of tax on such firearms and ammunition for government instrumentality or agency use

Exemption for organizations and persons engaged in maintaining peace and order

tax law

firearms

armed forces

amendment

REPUBLIC ACT No. 2662

An Act to Amend Subsection (h), Section One Hundred Eighty-Five of Commonwealth Act Numbered Four Hundred Sixty-Six, Otherwise Known as the National Internal Revenue Code

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

Section 1

Subsection h, Section one hundred eighty-five of Commonwealth Act Numbered Four hundred sixty-six, is amended to read as follows:

> "(h) Firearms and cartridges or other forms of ammunition, except those locally manufactured: Provided, However, That no tax shall be collected on .22-caliber firearms and cartridges as well as other forms of ammunition sold or delivered directly to the Armed Forces of the Philippines or to any government instrumentality or agency as well as to any organization and persons engaged in maintaining peace and order for their use or issue."

Section 2

This Act shall take effect upon its approval.

Approved: June 18, 1960.

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.