Section 5
SEC. 5. Section 21 [d] of the National Internal Revenue Code is hereby amended to read as follows: “SEC. 21 [d] On interest from bank deposits and yield or any other monetary benefit from deposit substitutes and from trust fund and similar arrangements. – Interest from Philippine Currency Bank deposits and yield or any other monetary benefit from deposit substitutes and from trust fund and similar arrangements whether received by citizens of the Philippines or by resident alien individuals, shall be subject to a 17-1/2% final tax and paid as provided in Sections 51 and 52 of this Code.