REPUBLIC ACT NO. 1280 - AN ACT TO AMEND SECTION EIGHT OF REPUBLIC ACT NUMBERED FIVE HUNDRED AND EIGHTY-EIGHT, ENTITLED "AN ACT TO AMEND CERTAIN SECTIONS 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 eight of Republic Act Numbered Five hundred and eighty-eight, as amended by Republic Act Numbered Seven hundred and twenty-six, Republic Act Numbered Nine hundred and fifty-eight, and Republic Act Numbered One thousand ninety-one, is further amended to read as follows:
"SEC. 8. The provisions of this Act shall take effect upon its approval, but, unless otherwise expressly extended by Congress, the increased taxes provided for in this Act shall continue in force and effect only until June thirty, nineteen hundred and ifty-seven, after which period the original rates of tax shall again be in force."
SEC. 2. This Act shall take effect upon its approval.
Approved, June 14, 1955.
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