An Act to Amend Subsection (h), Section One Hundred Eighty-Five of Commonwealth Act Numbered Four Hundred Sixty-Six, Otherwise Known as the National Internal Revenue Code
Year:
1960
Category:
Other
Date Approved:
June 18, 1960
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 the National Internal Revenue Code by modifying the tax provisions related to firearms and ammunition. Specifically, it exempts .22-caliber firearms and cartridges from tax when sold to the Armed Forces or government agencies.Full Text
REPUBLIC ACT No. 2662
An Act to Amend Subsection (h), Section One Hundred Eighty-Five of Commonwealth Act Numbered Four Hundred Sixty-Six, Otherwise Known as the National Internal Revenue Code
Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:
Section 1. Subsection h, Section one hundred eighty-five of Commonwealth Act Numbered Four hundred sixty-six, is amended to read as follows:
Section 2. This Act shall take effect upon its approval.
Approved: June 18, 1960.
"(h) Firearms and cartridges or other forms of ammunition, except those locally manufactured: Provided, However, That no tax shall be collected on .22-caliber firearms and cartridges as well as other forms of ammunition sold or delivered directly to the Armed Forces of the Philippines or to any government instrumentality or agency as well as to any organization and persons engaged in maintaining peace and order for their use or issue."
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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.