REPUBLIC ACT No. 4620
An Act to Amend Certain Sections of Republic Act Numbered Thirty-One Hundred Twenty-Seven, as Amended
Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:
Section 1
The second paragraph of Section three of Republic Act Numbered Thirty-one hundred twenty-seven, as amended, is further amended to read as follows:
> "The term basic chemical industries, including fertilizers, shall refer to the manufacture of basic industrial chemicals such as acids, alkalis, salts, except calcium hydroxide, intermediates, dyes, colour lakes and toners; explosives; ammunitions; synthetic resins; synthetic rubber; fertilizers; all chemicals for the production of medicants and insecticides; petro-chemical; bitumen; sucrochemical; and coke and coal chemicals."
Section 2
Subsection (a), (b) and (c) of Section six of the same Act are amended to read as follows:
> "(a) One hundred per centum of the taxes due during the period from the date of approval of this Act to December thirty-first, nineteen hundred sixty-seven; > > "(b) Seventy-five per centum of the taxes due during the period from January first, nineteen hundred sixty-eight to December thirty-first, nineteen hundred sixty-nine; > > "(c) Fifty per centum of the taxes due during the period from January first, nineteen hundred and seventy to December thirty-first, nineteen hundred and seventy-one after which such person, partnership, company or corporation shall be liable in full to all taxes;"
Section 3
This Act shall take effect upon its approval.
Approved: June 19, 1965.
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.