Amendment to Philippine Overseas Shipping Act

Ask AI

Republic Act No. 4146: Amendment to Philippine Overseas Shipping Act

What do you want to know about the law?
Ask AI quickly gives answers based only on the current context to avoid mistakes. Always verify with the original text.

New Chat Started

Ask AI

Title Source: Supreme Court: Amendment to Philippine Overseas Shipping Act

Law: Republic Act No. 4146

Decision Date: Jun 20, 1964

The Amendment to Republic Act No. 1407 provides a ten-year exemption from income tax for Filipino citizens, associations, and corporations engaged in the overseas shipping business, with an additional five-year exemption period, on the condition that all net profits are reinvested in vessels and equipment.

END