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Republic Act
Approved June 20, 1953

Republic Act No. 902

An act to amend the first paragraph of section one hundred and eighty-six, chapter one, title v, of commonwealth act numbered four hundred and sixty-six, entitled "an act to revise, amend and codify the internal revenue laws of the philippines.",

AN ACT TO AMEND THE FIRST PARAGRAPH OF SECTION ONE HUNDRED AND EIGHTY-SIX, CHAPTER ONE, TITLE V, OF COMMONWEALTH ACT NUMBERED FOUR HUNDRED AND SIXTY-SIX, ENTITLED "AN ACT TO REVISE, AMEND AND CODIFY THE INTERNAL REVENUE LAWS OF THE PHILIPPINES.",

In plain language

This act amends Section 186 of Commonwealth Act No. 466 to modify the percentage tax on sales of certain articles, adjusting rates and providing special provisions for manufactured goods, forest products, and exported goods.

  • 7% tax on sales of other articles
  • 5% tax on forest products
  • No percentage tax on goods or products shipped or exported abroad
  • Special tax calculation for sawmill operators based on 33 1/3% of gross cost of logs
  • Deductible cost of materials for manufactured goods
  • Tax for imported goods under certain conditions
tax
percentage tax
internal revenue law
amendment
forest products
sawmills
exports

[ REPUBLIC ACT NO. 902, June 20, 1953 ]

AN ACT APPROPRIATING ADDITIONAL SUM OF TWENTY MILLION PESOS FOR "COUNTERPART FUND" TO CARRY OUT THE PURPOSES OF REPUBLIC ACT NUMBERED SIX HUNDRED AND FOUR.

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

Section 1

There is hereby appropriated, out of any funds in the National Treasury not otherwise appropriated, the sum of twenty million pesos as additional appropriation for the "Counterpart Fund" constituted under Republic Act Numbered Six hundred and four, to be spent in accordance with the provision of said Act:*Provided,* That this appropriation shall be available for expenditure until exhausted even after June thirty, nineteen hundred and fifty-four.

Section 2

This Act shall take effect upon its approval.

Approved, June 20, 1953.

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.