Exemption from Taxes.
Section 10
SEC. 10. Exemption from Taxes.—Any provision of existing laws to the contrary notwithstanding, any donation, contribution, bequest, subsidy or financial aid which may be made to the Center shall be exempt from taxes of any kind, and shall constitute allowable deductions in full from the income of the donors or givers for income tax purposes. The Center, its assets, acquisitions, income, and its operations and transactions shall be exempt from any and all taxes, fees, charges, imposts, licenses and assessments, direct or indirect imposed by the Republic of the Philippines or any of its political subdivision or taxing authority thereof, except import taxes, duties and fees. Done in the City of Manila, this 13th day of May, in the year of Our Lord, nineteen hundred and seventy-four. (Sgd.) FERDINAND E. MARCOS President of the Philippines By the President: (Sgd.) ALEJANDRO MELCHOR Executive Secretary