PHILIPPINE LAWS, STATUTES AND CODES - CHAN ROBLES VIRTUAL LAW LIBRARY

REPUBLIC ACTS

---

REPUBLIC ACT NO. 570

REPUBLIC ACT NO. 570 - AN ACT TO AMEND SECTION FIFTEEN OF REPUBLIC ACT NUMBERED FIFTY-SIX RELATIVE TO THE TAX ON MINERAL OILS USED IN AVIATION

Section 1. Section fifteen of Republic Act Numbered Fifty-six is hereby amended to read as follows: "Section 15. Whenever any of the oils mentioned in section one hundred and forty-two of Commonwealth Act Numbered Four hundred and sixty-six are, during the period of five years from the effective date of this Act, used in aviation, fifty per centum of the specific tax paid thereon shall be refunded by the Collector of Internal Revenue upon the submission of a sworn certificate satisfactory to him proving that the said oils were actually used in aviation. No such refund shall be granted in respect to the oils used in aviation by citizens and corporations of foreign countries which do not grant equivalent refunds or exemptions in respect to similar oils used in aviation by citizens and corporations of the Philippines." Sec. 2. This Act shall take effect upon its approval. Approved: August 31, 1950

chanrobles virtual law library
Back to Main
chanroblesvirtuallawlibrary