Republic Act No. 35

Republic Act No. 35  (1946) 
Republic of the Philippines
AN ACT AUTHORIZING THE EXEMPTION OF NEW AND NECESSARY INDUSTRIES FROM THE PAYMENT OF INTERNAL REVENUE TAXES.
Abbreviation RA 35
Short name no value
Main subject no value
Approved on 30 September 1946
Table of contents  
Sec. 1 Sec. 2 Sec. 3
 


Republic of the Philippines
Congress of the Philippines
Metro Manila






[ Republic Act No. 35 ]
AN ACT AUTHORIZING THE EXEMPTION OF NEW AND NECESSARY INDUSTRIES FROM THE PAYMENT OF INTERNAL REVENUE TAXES.


Section 1.

Any person, partnership, company, or corporation who or which shall engage in a new and necessary industry shall, for a period of four years from the date of the organization of such industry, be entitled to exemption from the payment of all internal revenue taxes directly payable by such person, partnership, company, or corporation in respect to said industry.

Section 2.

The President of the Philippines, shall, upon recommendation of the Secretary of Finance, periodically determine the qualifications that the industries should possess to be entitled to the benefits of this Act.

Section 3.

This Act shall take effect upon its approval.

Approved: September 30, 1946
 

This work is in the public domain because it is a work of the Philippine government (see Republic Act No. 8293 Sec. 176).
All official Philippine texts of a legislative, administrative, or judicial nature, or any official translation thereof, are ineligible for copyright.