REPUBLIC ACT NO. 1274 - AN ACT TO AMEND SECTION SEVEN OF REPUBLIC ACT NUMBERED FIVE HUNDRED AND SIXTY-SEVEN, ENTITLED "AN ACT TO AMEND TITLE VI 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 sixty-seven, as amended by Republic Act Numbered Seven hundred and twenty-five, Republic Act Numbered Eight hundred and seventy, and Republic Act Numbered One thousand and ninety-two, is further amended to read as follows:

“SEC. 7. The provisions of this Act shall take effect upon ts approval but, unless otherwise expressly extended by congress, the increased taxes provided for in this Act shall continue in force and effect until June thirty, teen hundred and fifty-seven, after which period original rates of tax shall again be in force."

SEC. 2. This Act shall take effect upon its approval

Approved, June 14, 1955.