June 14, 1955

REPUBLIC ACT NO. 1274

AN ACT TO AMEND SECTION SEVEN OF REPUBLIC ACT NUMBERED FIVE HUNDRED AND SIXTY-SEVEN, ENTITLED "AN ACT TO AMEND TITLE VI OF COMMONWEALTH ACT NUMBERED FOUR HUNDRED AND SIXTY-SIX, OTHERWISE KNOWN AS THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED"

SECTION 1.  Section seven of Republic Act Numbered Five hundred and sixty-seven, as amended by Republic Act Numbered Seven hundred and twenty-five, Republic Act Numbered Eight hundred and seventy, and Republic Act Numbered One thousand and ninety-two, is further amended to read as follows:

"Sec. 7.         The provisions of this Act shall take effect upon its approval but, unless otherwise expressly extended by Congress, the increased taxes provided for in this Act shall continue in force and effect until June thirty, nineteen hundred and fifty-seven, after which period the original rates of tax shall again be in force."

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

Approved: June 14, 1955