Section 12
SEC. 12. Exemption from Taxes. Any provision of existing laws to the contrary notwithstanding, any donation, contribution, request, subsidy or financial aid which may be made to the Projects shall be exempt from taxes of any kind and shall constitute allowable deductions in full from the income of the donors and donees for income tax purposes. The assets of the Program and its commodity requirements procured from local and foreign suppliers shall be exempt from all taxes, duties, fees, charges, imposts, licenses, and assessments, direct or indirect, imposed by the Republic of the Philippines or any of its political subdivision or authority.