Section 1
SECTION 1. Paragraph (e) of Section twenty-four of the National Internal Revenue Code, as amended, is hereby repealed.
Batas Pambansa Blg. 399 (BP 399) — AN ACT ABOLISHING THE ADDITIONAL TEN PERCENT TAX ON THE TAXABLE NET INCOME OF CLOSELY-HELD CORPORATIONS, REPEALING FOR THE PURPOSE PARAGRAPH (e) OF SECTION TWENTY-FOUR OF THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED.
Batas Pambansa Blg. 399 (BP 399) — AN ACT ABOLISHING THE ADDITIONAL TEN PERCENT TAX ON THE TAXABLE NET INCOME OF CLOSELY-HELD CORPORATIONS, REPEALING FOR THE PURPOSE PARAGRAPH (e) OF SECTION TWENTY-FOUR OF THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED.
Data as of July 4, 2026 · Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗
Section 2
SEC. 2. This Act shall take effect upon its approval. Approved, May 18, 1983.
Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).
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