Increase Transfer Fee for Large Cattle

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Republic Act No. 568: Increase Transfer Fee for Large Cattle

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Title Source: Supreme Court: Increase Transfer Fee for Large Cattle

Law: Republic Act No. 568

Decision Date: Aug 31, 1950

Republic Act No. 568 amends the charge for the certificate of transfer of large cattle, increasing it from two to five pesos, with the buyer being responsible for payment and the collected money being deposited into the city, municipal, or provincial treasury until December 31, 1952, with the possibility of extension by Congress.

Payment and Issuance of Certificate of Transfer

Every certificate of transfer for large cattle must have a five peso stamp printed on its face.
The stamp must be cancelled using the seal of the city, municipality, or municipal district concerned.
The payment for the certificate is made by the buyer of the large cattle.

Allocation of Proceeds from the Certificate

In cities and organized municipalities, the proceeds from the sale of the certificate must be paid into the corresponding city or municipal treasury.
In municipal districts, proceeds are paid into the provincial treasury but for the benefit of the municipal district concerned.

Duration and Effectivity of the Increased Charge

The law takes effect immediately upon approval.
The increased charge of five pesos for the certificate of transfer is valid until December 31, 1952.
After this date, unless Congress expressly extends the law, the charge reverts to the original rate of two pesos.

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