Section 2
SEC. 2. Beginning January 1, 1976, capital gains arising from stock transaction shall be subject to tax under a new subsection in Section 34 of the National Internal Revenue Code, which shall read as follows: "SEC. 34 (g). Gains from sale, barter, or exchange of shares of stock derived from sources within the Philippines shall be taxed under the following schedules: Rate Not over P10,000.00 10% Over P10,000 but not over P15,000 12% Over P15,000 but not over P20,000 14% Over P20,000 but not over P35,000 17% Over P35,000 but not over P50,000 20% Over P50,000 25% Provided, however, That non-resident investors buying and/or selling shares of stock of Philippine corporations listed in the dollar or any acceptable foreign currency board of any stock exchange shall be subject only to the 1/4 of 1% stock transaction tax."