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REPUBLIC ACTS
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| REPUBLIC ACT NO. 227 - AN
ACT TO EXEMPT FROM THE PAYMENT OF INCOME AND OTHER TAXES THE AMOUNTS
COLLECTED BY A TAXPAYER FOR DAMAGES SUFFERED DURING THE WAR |
| Section
1. Any amount received by a taxpayer from the
Government of the United States or of the Philippines, or from any of
their agencies and instrumentalities, for or on account of damages or
losses suffered during the last war is hereby exempted from the payment
of income tax and/or any other taxes to the Government of the
Philippines; and any such tax heretofore collected thereon shall be
credited, if such credit is requested, within one year from the
approval of this Act. Section 2. This Act shall take effect upon its approval. Approved: June 5, 1948 |
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