[ REPUBLIC ACT No. 1335, June 16, 1955 ]
AN ACT TO AMEND SECTION SEVEN OF REPUBLIC ACT NUMBERED FIVE HUNDRED AND EIGHTY-NINE, ENTITLED "AN ACT TO AMEND SECTIONS ONE HUNDRED AND THIRTY-THREE, ONE HUNDRED AND THIRTY-FOUR, ONE HUNDRED AND THIRTY-FIVE, ONE HUNDRED AND THIRTY-SEVEN, ONE HUNDRED AND FORTY, AND ONE HUNDRED AND FORTY-SEVEN OF COMMONWEALTH ACT NUMBERED FOUR HUNDRED AND SIXTY-SIX, OTHERWISE KNOWN AS THE NATIONAL INTERNAL REVENUE CODE, AS" AMENDED."
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:
SECTION 1. Section seven of Republic Act Numbered Five hundred and eighty-nine, as amended by Republic Act Numbered Seven hundred and twenty-four, Republic Act Numbered Nine hundred and fifty-five, and Republic Act Numbered One thousand ninety, is further amended to read as follows:
Approved, June 16, 1955.
SECTION 1. Section seven of Republic Act Numbered Five hundred and eighty-nine, as amended by Republic Act Numbered Seven hundred and twenty-four, Republic Act Numbered Nine hundred and fifty-five, and Republic Act Numbered One thousand ninety, is further amended to read as follows:
"SEC. 7. The provisions of this Act shall take effect upon its approval but, unless otherwise expressly extended by Congress, the increased rates of tax provided for in this Act shall continue in force and effect until December thirty-one, nineteen hundred and fifty-seven."SEC. 2. This Act shall take effect upon its approval.
Approved, June 16, 1955.