PHILIPPINE LAWS, STATUTES, CODES & ISSUANCES
PHILIPPINE LAWS, STATUTES AND CODES
REPUBLIC ACTS
| REPUBLIC ACT NO. 566 - AN
ACT TO PROVIDE THAT BONDS, CERTIFICATES AND OTHER EVIDENCES OF
INDEBTEDNESS ISSUED BY THE PRESIDENT OF THE PHILIPPINES UNDER THE
PROVISIONS OF REPUBLIC ACT NUMBERED TWO HUNDRED SIXTY-SIX, SHALL BE
EXEMPT FROM TAXATION OR ASSESSMENT |
| Section 1. All
bonds, certificates and other evidences of indebtedness to be issued by
the President of the Philippines under the provisions of Republic Act
Numbered Two hundred sixty-six, entitled "An Act appropriating such
sums as may from time to time be released by the Central Bank
representing excess monetary reserves, and authorizing the President of
the Philippines to issue bonds, certificates or other evidences of
indebtedness covering such amounts," for the purpose of economic
rehabilitation and development, and the interests payable thereon,
shall be exempt from taxation or assessment, whether national,
provincial or municipal. Sec. 2. This Act shall take effect upon its approval. Approved: August 31, 1950 |