Republic Act No. 3660

: An Act to amend Republic Act No. 3207, entitled 'An Act granting the San Fernando Electric Light and Power Co., Inc, a franchise for an electric light, heat and power system in the Municipality of San Fernando, Province of Pampanga.'
: It inserts a new section, Section 2-A, between sections two and three of RA 3207 regarding the payment of a franchise tax by the grantee.
: The grantee shall pay a franchise tax equal to two per cent (2%) of the gross earnings for electric current sold under the franchise.
: The franchise tax is calculated on the gross earnings for electric current sold under the franchise.
: No, except for the franchise tax of 2% of the gross earnings, no other tax upon capital stock, franchise, right of way, earnings, or all other property owned or operated by the grantee shall be levied or assessed.
: The franchise tax obligation is effective upon the date the original franchise was granted.
: Provision of laws to the contrary notwithstanding, the franchise tax of two per cent of the gross earnings shall be respected.
: The Act shall take effect upon its approval, which was June 22, 1963.
: The text of RA 3660 does not specify penalties for non-payment within the provided sections.
: The franchise tax shall be paid into the Treasury of the Philippines.