Republic Act No. 400: An act to further amend sections one hundred and eighty-four and one hundred and eighty-five of commonwealth act numbered four hundred and sixty-six, otherwise known as the national internal revenue code

Republic Act No. 400

An act to further amend sections one hundred and eighty-four and one hundred and eighty-five of commonwealth act numbered four hundred and sixty-six, otherwise known as the national internal revenue code

An Act to Further Amend Sections One Hundred and Eighty-Four and One Hundred and Eighty-Five of Commonwealth Act Numbered Four Hundred and Sixty-Six, Otherwise Known as the National Internal Revenue Code

In plain language

Republic Act No. 396 amends sections 184 and 185 of the National Internal Revenue Code to modify the percentage tax rates and definitions of taxable goods such as automobiles, jewelry, toilet preparations, sporting goods, refrigerators, and related items.

Amended percentage tax rate for automobiles to 30% in Section 184 and to 15% with special brackets in Section 185

Defined specific jewelry, toilet preparations, sporting goods, refrigerators, and other items subject to tax

Provided deductions for cost of materials subject to tax

Established special tax rates for items priced below certain thresholds

Excluded certain items such as dental gold alloys, surgical instruments, and specific ammunition from tax

tax law

percentage tax

National Internal Revenue Code

REPUBLIC ACT No. 400

An Act to Grant to the Inabanga Electric Service Company a Franchise for an Electric Light, Heat, and Power System in the Municipality of Inabanga, Province of Bohol

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

Section 1

Subject to the terms and conditions established in Act Numbered Thirty-six hundred and thirty-six as amended by Commonwealth Act Numbered One hundred and thirty-two, and to the provisions of the Constitution, there is granted to the Inabanga Electric Service Company, for a period of fifty years from the approval of this Act, the right, privilege, and authority to construct, maintain, and operate an electric light, heat, and power plant for the purpose of generating and distributing electric light, heat, and/or power for sale within the limits of the municipality of Inabanga, Province of Bohol.

Section 2

It is expressly provided that in the event the Government should desire to maintain and operate for itself the plant and enterprise herein authorized, the grantee shall surrender its franchise and will turn over to the Government all serviceable equipment therein, at cost.

Section 3

This Act shall take effect upon its approval.

Approved: June 18, 1949.

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.