PD 564 Section 11

Instruments of Indebtedness Exempt from Taxes.

Section 11

SEC. 11. Instruments of Indebtedness Exempt from Taxes. — The bonds and other instruments of indebtedness which the Authority is authorized to issue under this Decree and any income derived therefrom, including those contracted with private international banking and financial institutions, may be exempt from the payment of all taxes of whatever kind and nature, including withholding taxes imposed by the Republic of the Philippines, its agencies, instrumentalities or political subdivisions, upon the recommendation of the Secretary of Finance and subject to the provisions of Republic Act No. 1000.

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Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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