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.
Year:
1950
Category:
Other
Date Approved:
August 31, 1950
Summary
Plain-language AI-assisted summary — not the official text. As of July 1, 2026. Read the full text below or on the official source.
This Act provides that bonds, certificates, and other evidences of indebtedness issued by the President of the Philippines under the provisions of Republic Act Numbered 266 shall be exempt from taxation or assessment. It aims to facilitate economic rehabilitation and development by ensuring that such financial instruments are not burdened by tax liabilities.Full Text
[ 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.
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Republic Acts are laws passed by the Congress of the Philippines. This content is sourced from LawPhil (lawphil.net) for reference purposes. For official and authoritative texts, please refer to the Official Gazette.