Republic Act No. 3660
TO AMEND REPUBLIC ACT NUMBERED THIRTY-TWO HUNDRED SEVEN, ENTITLED “AN ACT GRANTING THE SAN FERNANDO ELECTRIC LIGHT AND POWER CO., INC, A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN THE MUNICIPALITY OF SAN FERNANDO, PROVINCE OF PAMPANGA”
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:
SECTION 1. Republic Act Numbered Thirty-two hundred Seven is hereby amended by inserting between sections two and three thereof the following new section:
“SEC. 2-A. In consideration of the franchise and rights hereby granted, the grantee shall pay into the Treasury of the Philippines a franchise tax equal to two per centum of the gross earnings for electric current sold under this franchise. Provision of laws to the contrary notwithstanding, the franchise tax equal to two per centum of the gross earnings of the grantee shall be respected. Effective upon the date the original franchise was granted, no other tax upon its capital stock, franchise, right of way earnings and all other property owned or operated the grantee under this concession or franchise shall be levied or assessed on the herein grantee except the franchise tax of two per centum of the gross earnings mentioned in the said original franchise.”
SEC. 2. This Act shall take effect upon its approval.
Approved, June 22, 1963
What do you want to do now?
Go Back to the Top; Go back to art’s home page; Laugh or Be Entertained; Destroy Cartels and Monopolies; Invest or Find a Job; Check Software or a Computer; Check out the latest News; Look for a School; Greet a Friend; Dip Into Black Gold and be Electrified; Express Yourself; Relive the Past; Get Involved in the Law, Government, & Politics; Read Some Classics; Meet New People; Consult the laws of the Philippine energy sector; Philosophize; or Search.
This page is best viewed using Microsoft Internet Explorer 11.0.
Last revised: January 18, 2016 02:18 AM.
Caveat Emptor: Owners of the sites included herein do not explicitly endorse this page.
Comments, suggestions, objections, or violent reactions?
Let me know.