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REPUBLIC
ACT NO. 1094
REPUBLIC ACT NO. 1094 - AN
ACT TO AMEND Sec. TWENTY-ONE OF COMMONWEALTH ACT NUMBERED FOUR HUNDRED
SIXTY-SIX, OTHERWISE KNOWN AS THE NATIONAL INTERNAL REVENUE CODE, AS
AMENDED
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Section 1.
Section twenty-one of the National Internal Revenue Code, as amended,
is further amended to read as follows:
"Sec. 21.
Rates of tax on citizens or residents. — There shall be levied,
assessed, collected, and paid annually upon the entire net income
received by the preceding taxable year from all sources by every
individual, a citizen or resident of the Philippines, a tax equal to
the sum of the following:
"Five per centum per annum upon the amount by which such total net
income does not exceed two thousand pesos;
"Eight per centum per annum upon the amount by which such total net
income exceed two thousand pesos and does not exceed four thousand
pesos;
"Twelve per centum per annum upon the amount by which such total net
income exceeds two thousand pesos;
"Sixteen per centum per annum upon the amount by which such total net
income exceed six thousand pesos and does not exceed eight thousand
pesos;
"Twenty per centum per annum upon
the amount by which such total net income exceeds eight thousand pesos
and does not exceed ten thousand pesos;
"Twenty-four per centum per annum upon the amount by which such total
net income exceeds ten thousand pesos; and does not exceed twenty
thousand pesos;
"Thirty per centum per annum upon the amount by which such total net
income exceeds twenty thousand pesos and does not exceed thirty
thousand pesos;
"Thirty-six per centum per annum upon the amount by which such total
net income exceeds thirty thousand pesos and does not exceed forty
thousand pesos;
"Forty per centum per annum upon the amount by which such total net
income exceeds forty thousand pesos and does not exceed fifty thousand
pesos;
"Forty-two per centum per annum
upon the amount by which such total net income exceeds fifty thousand
pesos and does not exceed sixty thousand pesos;
"Forty-four per centum per annum upon the amount by which such total
net income exceeds sixty thousand pesos and does not exceed seventy
thousand pesos;
"Forty-six per centum per annum upon the amount by which such total net
income exceeds seventy thousand pesos and does not exceed eighty
thousand pesos;
"Forty-eight per centum per annum
upon the amount by which such total net income exceeds eighty thousand
pesos and does not exceed ninety thousand pesos;
"Fifty per centum per annum upon the amount by which such total net
income exceeds ninety thousand pesos and does not exceed one hundred
thousand pesos;
"Fifty-two per centum per annum upon the amount by which such total net
income exceeds one hundred thousand pesos and does not exceed one
hundred and twenty thousand pesos;
"Fifty-three per centum per annum upon the amount by which such total
net income exceeds one hundred and twenty thousand pesos and does not
exceed one hundred and forty thousand pesos;
"Fifty-four per centum per annum upon the amount by which such total
net income exceeds one hundred and forty thousand pesos and does not
exceed one hundred and sixty thousand pesos;
"Fifty-five per centum per annum
upon the amount by which such total net income exceeds one hundred and
sixty thousand pesos and does not exceed one two hundred thousand
pesos;
"Fifty-six per centum per annum upon the amount by which such total net
income exceeds two hundred thousand pesos and does not exceed one two
hundred and fifty thousand pesos;
"Fifty-seven per centum per annum upon the amount by which such total
net income exceeds two hundred and fifty thousand pesos and does not
exceed three hundred thousand pesos;
"Fifty-nine per centum per annum upon the amount by which such total
net income exceeds three hundred thousand pesos and does not exceed
four hundred thousand pesos;
"Sixty per centum per annum upon the amount by which such total net
income exceeds five hundred thousand pesos."
Sec. 2. This Act shall take effect upon its
approval; Provided, however, That the rates of hereinabove fixed shall
apply to income to received from January first, nineteen hundred and
fifty-four, to December thirty-first, nineteen hundred and fifty-five.cralaw
Approved: June 15, 1954
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