AN ACT TO REPEAL SUBSECTION (b) OF SECTION ONE HUND8ED AND EIGHTY-FOUR AND TO AMEND SUBSECTION (a) OF SECTION ONE HUNDRED-AND EIGHTY-FIVE OF COMMONWEALTH ACT NUMBERED FOUR HUNDRED AND SIXTY-SIX.

• Number: Commonwealth Act No. 525
• Sections: 3

Section 1

SECTION 1. Subsection (b) of section one hundred and eighty-four of Commonwealth Act numbered Four hundred and sixty-six is repealed.

Section 2

SEC 2. Subsection (a) of section one hundred and eighty-five of the same Act is amended to read as follows:

"(a) Automobile chassis and bodies, the selling price of which does not exceed two thousand five hundred pesos each: Provided, That,if the selling price of an automobile exceeds two thousand five hundred pesos, the excess amount shall also be taxed in accordance with the provisions of section one hundred and eighty-four hereof. A sale of automobile shall, for the purposes of this section, be considered to be a sale of the chassis and of the body together with parts and accessories with which the same are usually equipped."

Section 3

SEC. 3. This Act shall take effect upon its approval.

Approved, May 10, 1940.