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| REPUBLIC ACT NO. 987 - AN
ACT TO AMEND Sec. TWO OF REPUBLIC ACT NUMBERED THREE HUNDRED FIFTY-
EIGHT BY WITHDRAWING THE EXEMPTION GRANTED TO THE NATIONAL POWER
CORPORATION FROM PAYING REAL ESTATE TAX |
| Section 1.
Section two of Republic Act Numbered Three hundred fifty-eight is
amended to read as follows: "Section 2. To
facilitate payment of its indebtedness, the National Power Corporation
shall be exempt from all taxes, except real property tax, and from all
duties, fees, imposts, charges, and restrictions of the Republic of the
Philippines, its provinces, cities and municipalities."
Section 2. This Act shall take effect upon its approval. Approved: June 2, 1954 |
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