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 Philippines in 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, color 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,”

 

SEC. 2.  Subsections (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 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:”

 

SEC. 3.  This Act shall take effect upon its approval.

 

Approved, June 19, 1965

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Last revised:  May 11, 2016 03:23 PM.

 

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