Section 3
SEC. 3. The first subparagraph of Section 2(a) of the National Internal Revenue Code, as amended, is hereby further amended to read as follows: "(a) Taxable compensation income. - A tax is hereby imposed upon the taxable compensation income as defined in Section 27, other than the incomes subject to tax under paragraphs (b), (c), (d), (e) and (f) of this section, received during each taxable year from all sources determined in accordance with the following schedule: "Not over P 2,500 0% "Over P 2,500 but not over P 5,000 1% "Over P 5,000 but not over P 10,000 P 25 + 3% of excess over P 5,000 "Over P 10,000 but not over P 20,000 P 175 + 7% of excess over P 10,000 "Over P 20,000 but not over P 40,000 P 875 + 11 % of excess over P 20,000 "Over P 40,000 but not over P 60,000 P 3,075 + 15% of excess over P 40,000 "Over P 60,000 but not over P 100,000 P 6,075 + 19% of excess over P 60,000 "Over P 60,000 but not over P 100,000 P 6,075 + 19% of excess over P 60,000 "Over P l00,000 but not over P 250,000 P 13,675 + 24% of excess over P 100,000 "Over P 250,000 but not over P 500,000 P 49,675 + 29% of excess over P 250,000 "Over P 500,000 P 122,175 + 35% of excess over P 500,000"