AN ACT AMENDING SECTION 145, PARAGRAPH (B), OF THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED
Year:
1989
Category:
Other
Date Approved:
October 30, 1989
Summary
Plain-language AI-assisted summary — not the official text. As of July 2, 2026. Read the full text below or on the official source.
This Act amends Section 145, paragraph (b) of the National Internal Revenue Code by introducing a new item regarding the ad valorem tax rate for naphtha used as a raw material in petrochemical production. It aims to regulate the tax implications for domestic refineries and imported naphtha.Full Text
Eighth Congress
Republic Act No. 6767 October 30, 1989
AN ACT AMENDING SECTION 145, PARAGRAPH (B), OF THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:
Section 1. Section 145, paragraph (b), of the National Internal Revenue Code, as amended, is hereby further amended by adding a new item (4) to read as follows:
Section 2. The Bureau of Internal Revenue with the approval of the Department of Finance shall promulgate rules and regulations necessary for the effective implementation of this Act.
Section 3. This Act shall take effect after fifteen (15) days following its publication either in the Official Gazette or a newspaper of general circulation in the Philippines.
Approved: October 30, 1989
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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.