Bill Type
Congress Name
Long Title
AN ACT AMENDING REPUBLIC ACT 7916, AS AMENDED, OTHERWISE KNOWN AS THE "SPECIAL ECONOMIC ZONE ACT OF 1995"
Date filed
February 3, 2005
Scope
Legislative History
| House Bill/Resolution NO. HB03694 |
| FULL TITLE : AN ACT AMENDING REPUBLIC ACT 7916, AS AMENDED, OTHERWISE KNOWN AS THE "SPECIAL ECONOMIC ZONE ACT OF 1995" |
| ABSTRACT : The bill provides that the levy (five percent of gross value) imposed on all business enterprises located within economic zones (ecozones) be allocated as follows: a) 2% to the national government; b) 2% to the city/municipality where the enterprise is located; and c) 1% to the province having territorial jurisdiction over the area where the ecozone is located. |
| PRINCIPAL AUTHOR/S : DIAZ, ANTONIO M. |
| DATE FILED : 2005-02-03 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2005-02-09 |
Abstract
The bill provides that the levy (five percent of gross value) imposed on all business enterprises located within economic zones (ecozones) be allocated as follows: a) 2% to the national government; b) 2% to the city/municipality where the enterprise is located; and c) 1% to the province having territorial jurisdiction over the area where the ecozone is located.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.