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.

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.

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.

In plain language

The Act exempts bonds, certificates, and other evidence of indebtedness issued by the President under RA 266 from taxation or assessment.

Exemption from taxation or assessment for bonds, certificates, and other evidences of indebtedness issued by the President under RA 266.

The Act takes effect upon approval.

Taxation

Finance

Debt

Government Bonds

[ REPUBLIC ACT NO. 566, August 31, 1950 ]

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.

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

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.

Section 2

This Act shall take effect upon its approval.

Approved, August 31, 1950.

For information and research only, and not legal advice. This text may not reflect later amendments. For certified copies, refer to the Official Gazette or the issuing agency.