REPUBLIC ACT NO. 1094 AN ACT TO AMEND SECTION TWENTY-ONE OF COMMONWEALTH ACT NUMBERED FOUR HUNDRED SIXTY-SIX, OTHERWISE KNOWN AS THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED. June 15, 1954

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

SECTION 1. Section twenty-one of the National Internal Revenue Code, as amended, is further amended to read as follows:

"SEC. 21.Rates of tax on citizens or residents.—There shall be levied, assessed, collected, and paid annually upon the entire net income received in the preceding taxable year from all sources by every individual, a citizen or resident of the Philippines, a tax equal to the sum of the following:

"Fiveper centum per annumupon the amount by which such total net income does not exceed two thousand pesos;

"Eightper centum per annumupon the amount by which such total net income exceeds two thousand pesos and does not exceed four thousand pesos;

"Twelveper centum per annumupon the amount by which such total net income exceeds four thousand pesos and does not exceed six thousand pesos;

"Sixteenper centum per annumupon the amount by which such total net income exceeds six thousand pesos and does not exceed eight thousand pesos;

"Twenty per centum per annum upon the amount by which such total net income exceeds eight thousand pesos and does not exceed ten thousand pesos;

"Twenty-fourper centum per annumupon the amount by which such total net income exceeds ten thousand pesos and does not exceed twenty thousand pesos;

"Thirtyper centum per annumupon the amount by which such total net income exceeds twenty thousand pesos and does not exceed thirty thousand pesos;

"Thirty-sixper centum per annumupon the amount by which such total net income exceeds thirty thousand pesos and does not exceed forty thousand pesos;

"Fortyper centum per annumupon the amount by which such total net income exceeds forty thousand pesos and does not exceed fifty thousand pesos;

"Forty-twoper centum per annumupon the amount by which such total net income exceeds fifty thousand pesos and does not exceed sixty thousand pesos;

"Forty-fourper centum per annumupon the amount by which such total net income exceeds sixty thousand pesos and does not exceed seventy thousand pesos;

"Forty-six per centum per annum upon the amount by which such total net income exceeds seventy thousand pesos and does not exceed eighty thousand pesos;

“Forty-eightper centum per annumupon the amount which such total net income exceeds eighty thousand and does not exceed ninety thousand pesos;

“Fiftyper centum per annumupon the amount by which such total net income exceeds ninety thousand pesos and does not exceed one hundred thousand pesos;

"Fifty-twoper centum per annumupon the amount by which such total net income exceeds one hundred thousand pesos and does not exceed one hundred and twenty thousand pesos;

"Fifty-threeper centum per annumupon the amount by which such total net income exceeds one hundred and twenty thousand pesos and does not exceed one hundred and forty thousand pesos;

"Fifty-fourper centum per annumupon the amount by which such total net income exceeds one hundred and forty thousand pesos and does not exceed one hundred and sixty thousand pesos;

"Fifty-fiveper centum per annumupon the amount by which such total net income exceeds one hundred and sixty thousand pesos and does not exceed two hundred thousand pesos;

"Fifty-sixper centum per annumupon the amount by which such total net income exceeds two hundred thousand pesos and does not exceed two hundred and fifty thousand pesos;

"Fifty-sevenper centum per annumupon the amount by which such total net income exceeds two hundred and fifty thousand pesos and does not exceed three hundred thousand pesos;

“Fifty-eightper centum per annumupon the amount by which such total net income exceeds three hundred thousand pesos and does not exceed four hundred thousand Pesos;

"Fifty-nineper centum per annumupon the amount by which such total net income exceeds four hundred thousand pesos and does not exceed five hundred thousand pesos; and

"Sixtyper centum per annumupon the amount by such total net income exceeds five hundred thousand pesos."

SEC. 2. This Act shall take effect upon its approval:Provided, however,That the rates hereinabove fixed shall apply to income received from January first, nineteen hundred and fifty-four, to December thirty-first, nineteen hundred and fifty-five. Approved, June 15, 1954.