An Act Amending Subparagraph (c) of the First Paragraph of Section One Hundred Eighty Eight of Commonwealth Act Numbered Four Hundred Sixty Six as Amended
Year:
1967
Category:
Other
Date Approved:
June 17, 1967
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 a specific subparagraph of Commonwealth Act No. 466, which pertains to the percentage tax on certain transactions. It specifically excludes minerals and mineral products from being subject to this tax when sold, bartered, or exchanged by the owner or lessee of the mineral land.Full Text
REPUBLIC ACT No. 4888
An Act Amending Subparagraph (c) of the First Paragraph of Section One Hundred Eighty Eight of Commonwealth Act Numbered Four Hundred Sixty Six as Amended
Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:
Section 1. Subparagraph (c) of the first paragraph of Section one hundred eighty-eight of Commonwealth Act Numbered Four hundred sixty-six, as amended is hereby further amended as follows:
x x x x x x x x x
Section 2. This Act shall take effect upon its approval.
Approved: June 17, 1967.
"Sec. 188. Transactions and persons not subject to percentage tax.— In computing the tax imposed in Sections One hundred eighty-four, One hundred eighty-five, and Hundred eighty-six transactions in the following commodities shall be excluded:
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