An Act to Exempt Awards Given by the Ramon Magsaysay Award Foundation from the Payment of Income, Gift and All Other Taxes
Ramon Magsaysay Award Tax Exemption Act
Year:
1958
Category:
Other
Date Approved:
June 13, 1958
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 exempts all awards given by the Ramon Magsaysay Award Foundation from the payment of income, gift, and all other taxes. It aims to encourage and honor individuals recognized for their contributions to society without the burden of taxation on their awards.Full Text
REPUBLIC ACT No. 2062
An Act to Exempt Awards Given by the Ramon Magsaysay Award Foundation from the Payment of Income, Gift and All Other Taxes
Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:
Section 1. The provisions of any existing law to the contrary notwithstanding, all awards given by the Ramon Magsaysay Award Foundation shall be exempted from the payment of income, gift and all other taxes.
Section 2. This Act shall take effect upon its approval.
Approved: June 13, 1958.
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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.