RA 601 Section 5

Section 5

SEC. 5. The tax imposed under section one hereof shall be paid to the Central Bank of the Philippines by the purchaser of the foreign exchange, and the Central Bank of the Philippines and/or its agents shall not sell any foreign exchange without the payment of the said tax. The refund of taxes pursuant to sections two and three of this Act shall be made by the Central Bank of the Philippines. The monies collected shall accrue to the General Fund in the National Treasury.

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Other provisions in RA 601

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of July 4, 2026

CitationRA 601 Section 5 (LawPlayer, data as of July 4, 2026)

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

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