AN ACT REQUIRING CORPORATIONS,
AGENCIES OR INSTRUMENTALITIES OWNED OR CONTROLLED BY THE GOVERNMENT TO
PAY TAXES, DUTIES, FEES, AND OTHER CHARGES
Section 1. All
corporations, agencies or instrumentalities owned or controlled by the
Government shall pay such duties, taxes, fees and other charges upon
their transaction, business, industry, sale or income as are imposed by
law upon individuals, associations or corporations engaged in any
taxable business, industry, or activity, except on goods or commodities
imported or purchased and sold or distributed for relief purposes as
may be determined by the President of the Philippines.
Sec. 2. All
acts or parts of acts which are inconsistent with the provisions of
this Act are hereby repealed.
Sec. 3. This
Act shall take effect upon its approval.
