Section 1
SECTION 1. The provisions of the National Internal Revenue Code and other existing laws to the contrary notwithstanding, the income tax clue on the price monies of foreign participants in the International Tennis Classics sponsored by the Philippine Lawn Tennis Association to be held in Manila from October 27 to November 2, 1975 shall be withheld by the Philippine National Bank and applied to the obligations of the Philippine Lawn Tennis Association incurred in connection with the said International Tennis Classics.