Bill Type
Congress Name
Long Title
AN ACT EXEMPTING THE BANK DEPOSITS OF SENIOR CITIZENS FROM THE 20% WITHHOLDING TAX ON INTEREST INCOME, AMENDING FOR THE PURPOSE OF THE REPUBLIC ACT NO. 7432
Date filed
September 3, 2007
Scope
Legislative History
| House Bill/Resolution NO. HB02342 |
| FULL TITLE : AN ACT EXEMPTING THE BANK DEPOSITS OF SENIOR CITIZENS FROM THE 20% WITHHOLDING TAX ON INTEREST INCOME, AMENDING FOR THE PURPOSE OF THE REPUBLIC ACT NO. 7432 |
| ABSTRACT : The bill exempts senior citizens from paying the final 20% withholding tax on interest income from bank deposits to enable them to fully use their savings. |
| PRINCIPAL AUTHOR/S : RODRIGUEZ, RUFUS B. |
| DATE FILED : 2007-09-03 |
| SIGNIFICANCE: NATIONAL |
| CO-AUTHORS (Journal Entries) : |
| 1. Golez (051 ) |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2007-09-11 |
Abstract
The bill exempts senior citizens from paying the final 20% withholding tax on interest income from bank deposits to enable them to fully use their savings.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.