Which act did the National Assembly enact in 1939 to address taxation?

The National Assembly enacted Commonwealth Act No. 470 in 1939 to address taxation issues in the Philippines. This act was significant as it aimed to reform and improve the framework for tax collection and administration during that period. It was part of the broader efforts to establish a more organized financial system in the country, ensuring that tax revenues were more effectively collected and managed, which was crucial for funding government services and public projects. This legislation reflects the priorities of the time, as the government sought to enhance fiscal accountability and support economic development through improved tax policies.