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| REPUBLIC ACT NO. 1583 - AN ACT
AMENDING SECTION THREE OF COMMONWEALTH ACT NUMBERED FIVE HUNDRED
SIXTY-SEVEN |
| Section 1.
Section three of Commonwealth Act Numbered Five hundred sixty-seven,
entitled "An Act to adjust and stabilize the sugar industry and to
raise revenue for the purpose by increasing the tax on the
manufacturers of sugar and imposing a tax on the owners of sugar lands
held by others under lease or other contract, granting the right to use
said lands for a consideration," is amended to read as follows: "Section 3.
When any land devoted to the cultivation of sugar cane is ceded to
others by the owner or by the person in control thereof, for a
consideration, under a contract of lease or otherwise, such owner or
the person in control thereof shall pay a tax equivalent to the
difference between the money value of the rental or consideration
collected and the amount representing twenty per centum of the assessed
value of such land."
Section 2. This Act shall take effect upon its approval and shall have retroactive effect on all pending cases. Approved: June 16, 1956 |
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