An Act to Exempt from the Payment of Income and Other Taxes the Amounts Collected by a Taxpayer for Damages Suffered During the War
Year:
1948
Category:
Other
Date Approved:
June 5, 1948
Summary
Plain-language AI-assisted summary — not the official text. As of July 1, 2026. Read the full text below or on the official source.
This Act exempts any amounts received by a taxpayer from the Government of the United States or the Philippines for damages suffered during the last war from income tax and other taxes. It also provides for the credit of any taxes previously collected on such amounts if requested within one year from the approval of the Act.Full Text
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
Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:
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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Republic Acts are laws passed by the Congress of the Philippines. This content is sourced from LawPhil (lawphil.net) for reference purposes. For official and authoritative texts, please refer to the Official Gazette.