,

ChanRobles Virtual Law Library






CHANROBLES VIRTUAL LAW LIBRARY






ChanRobles Professional Review, Inc.

ChanRobles Professional Review, Inc. : www.chanroblesprofessionalreview.com

On-Line Bar Review

ChanRobles Internet Bar Review : www.chanroblesbar.com

ChanRobles CPA Review Online

ChanRobles CPALE Review Online : www.chanroblescpareviewonline.com

ChanRobles Special Lecture Series

ChanRobles Special Lecture Series - Memory Man : www.chanroblesbar.com/memoryman

MCLE:

cralaw_lawnet

DebtKollect

cralaw_debkollect

Intellectual Property

cralaw_iplaw
Chan Robles Virtual Law Library


Bookmark and Share



A collection of Philippine laws, statutes and codes
not included or cited in the main indices
of the Chan Robles Virtual Law Library

This page features the full text of
Commonwealth Act No. 637
AN ACT TO EXEMPT NON-RESIDENT CITIZENS OF THE UNITED STATES AND CORPORATIONS ORGANIZED UNDER THE LAWS OF THE UNITED STATES FROM CERTAIN TAXES.
chan robles virtual law library.


COMMONWEALTH ACT NO. 637
 
 
AN ACT TO EXEMPT NON-RESIDENT CITIZENS OF THE UNITED STATES AND CORPORATIONS ORGANIZED UNDER THE LAWS OF THE UNITED STATES FROM CERTAIN TAXES.
chan robles virtual law library
chan robles virtual law library
Section 1.  The income of non-resident citizens of the United States or corporations organized under the laws of the United States or any of its political subdivisions, which consist exclusively of earnings derived from the operation of ships documented under the laws of the United States, except income derived by them from the operation of a ship or ships in the Philippine coastwise trade, shall not be included as a part, of the gross income of such citizens or corporations and shall be exempt from the tax established under Title II (Income Tax) of the National Internal Revenue Code. chanrobles virtual law library

Sec. 2.  The income derived exclusively by non-resident citizens of the United States or by corporations organized under the laws of the United States of any of its political subdivisions from the operation of ships documented under the laws of the United States, except income derived by such citizens or corporations from the operation of a ship or ships in the Philippine coastwise trade, shall not be included in the computation of the residence tax collectible under Commonwealth Act Numbered four hundred and sixty-five, entitled "An Act to impose a Residence Tax." chanrobles virtual law library

Sec. 3.  The exemptions herein provided shall be allowable if and when the Government of the United States grants an equivalent exemption to non-resident citizens of the Philippines in the United States and to corporations organized in the Philippines with regard to their income derived exclusively from the operation of ships documented under the laws of the Philippines. chanrobles virtual law library

Sec. 4.  This Act shall take effect upon its approval. chanrobles virtual law library


Back to Top   -  Back to Main Index    -  Back to Home