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RA 5933
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AN ACT AMENDING SECTION SEVEN OF REPUBLIC ACT NUMBERED SIX HUNDRED NINETY-SEVEN.

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Year:

1969

Category:

Other

Date Approved:

June 21, 1969

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 amends Section Seven of Republic Act Numbered Six Hundred Ninety-Seven, specifying the tax liabilities of the grantee and its successors or assigns regarding real estate and gross receipts from their business operations. It ensures that the grantee pays the same taxes as other corporations while establishing a specific percentage of gross receipts to be paid to the Treasurer of the Philippines.
Full Text

[ REPUBLIC ACT NO. 5933, June 21, 1969 ]

AN ACT AMENDING SECTION SEVEN OF REPUBLIC ACT NUMBERED SIX HUNDRED NINETY-SEVEN.

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

Section 1. Section seven of Republic Act Numbered Six hundred ninety-seven is amended to read as follows:

Section 2. This Act shall take effect upon its approval.

Enacted without Executive approval, June 21, 1969.


"Section 7. The grantee, its successors or assigns, shall be liable to pay the same taxes on its real estate, buildings, and personal property, exclusive of this franchise, as other persons or corporations are now or hereafter may be required by law to pay. In addition, the grantee, its successors or assigns, shall pay to the Treasurer of the Philippines each year, within ten days after the audit and approval of the accounts as prescribed in Section six of this Act, two per centum of all gross receipts of the telephone or other electrical transmission business transacted under this franchise by the grantee, its successors or assigns, and the said percentage shall be in lieu of other taxes, except income taxes."

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Source

Official source from LawPhil:

View on LawPhil Last updated: Jul 1, 2026
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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.