REPUBLIC ACT NO. 870 - AN ACT TO EXTEND THE EFFECTIVITY OF REPUBLIC ACT NUMBERED FIVE HUNDRED AND SIXTY-SEVEN, BY FURTHER AMENDING SECTION SEVEN THEREOF, ENTITLED "AN ACT TO AMEND TITLE SIX OF COMMONWEALTH ACT NUMBERED FOUR HUNDRED AND SIXTY-SIX, OTHERWISE KNOWN AS THE NATIONAL INTERNAL REVENUE CODE."
Be is 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 sixty-seven, as amended by Republic Act Numbered Seven hundred and twenty-five, is further amended to read as follow:
"SEC. 7. 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 until December thirty-one, nineteen hundred and fifty-four."
SEC. 2. This Act shall take effect upon its approval.
Approved, June 16, 1953.
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