Republic Act No. 664: An act to amend section three hundred and thirty-four of commonwealth act numbered four hundred and sixty-six, known as the national internal revenue code, as amended by republic act numbered four hundred and thirty-eight

Republic Act No. 664

An act to amend section three hundred and thirty-four of commonwealth act numbered four hundred and sixty-six, known as the national internal revenue code, as amended by republic act numbered four hundred and thirty-eight

AN ACT TO AMEND SECTION THREE HUNDRED AND THIRTY-FOUR OF COMMONWEALTH ACT NUMBERED FOUR HUNDRED AND SIXTY-SIX, KNOWN AS THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED BY REPUBLIC ACT NUMBERED FOUR HUNDRED AND THIRTY-EIGHT

In plain language

Amends Section 334 of the National Internal Revenue Code to establish bookkeeping requirements for corporations, companies, partnerships, and persons, with simplified records for those with gross quarterly sales below 5,000 pesos and audited books for those exceeding 25,000 pesos.

Amendment to Section 334 of the National Internal Revenue Code

Requirement for corporations, companies, partnerships, and persons to maintain books of accounts

Simplified bookkeeping for entities with gross quarterly sales, earnings, receipts, or output not exceeding 5,000 pesos

Audited books required for entities exceeding 25,000 pesos in gross quarterly sales, earnings, receipts, or output

Taxation

Accounting

Corporations

[ REPUBLIC ACT NO. 664, June 16, 1951 ]

AN ACT FIXING THE MINIMUM COMPENSATION OF PHYSICIANS EMPLOYED BY THE GOVERNMENT IN POSITIONS REQUIRING MEDICAL KNOWLEDGE TO TWO THOUSAND FOUR HUNDRED PESOS PER ANNUM.

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

Section 1

Any provision of law to the contrary notwithstanding, all physicians employed on full time basis by the Government in positions requiring the knowledge of medicine, shall receive a minimum annual compensation of two thousand four hundred pesos.

Section 2

The President of the Philippines is hereby authorized to use such sums as may be necessary to carry out the purpose of this Act, but not to exceed one hundred thousand pesos, to be taken from any funds in the Philippine Treasury not otherwise appropriated.

Section 3

This Act shall take effect upon its approval.

Approved, June 16, 1951.

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.