Republic Act No. 35 (RA 35) — An Act Authorizing the Exemption of New and Necessary Industries from the Payment of Internal Revenue Taxes.
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 1. Any person, partnership, company, or corporation who or which shall engage in a new and necessary industry shall, for a period of four years from the date of the organization of such industry, be entitled to exemption from the payment of all internal revenue taxes directly payable by such person, partnership, company, or corporation in respect to said industry.
SEC. 2. The President of the Philippines, shall, upon recommendation of the Secretary of Finance, periodically determine the qualifications that the industries should possess to be entitled to the benefits of this Act.
SEC. 3. This Act shall take effect upon its approval. Approved, September 30, 1946.
Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).