Bill Type
Congress Name
Long Title
AN ACT ENCOURAGING INCREASED LEVELS OF SAVINGS AND INVESTMENTS, AMENDING FOR THE PURPOSE 24 (B), 121, 122 AND 123 OF THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED
Date filed
July 2, 2001
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 287, 12th Congress of the Republic | |
| FULL TITLE : AN ACT ENCOURAGING INCREASED LEVELS OF SAVINGS AND INVESTMENTS, AMENDING FOR THE PURPOSE 24 (B), 121, 122 AND 123 OF THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED | |
| ABSTRACT : This proposed measure seeks to adopt the following: (1) interest income derived from deposits and deposit substitutes shall be exempted from the 20% final tax; and (2) banks, finance companies and insurance premiums shall be exempted from the GrossReceipts Tax (GRT). | |
| PRINCIPAL AUTHOR/S : TEVES, HERMINIO G. | |
| DATE FILED : 2001-07-02 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Badelles (010 ) | 2. Syjuco (041 ) |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2001-07-24 |
Abstract
This proposed measure seeks to adopt the following: (1) interest income derived from deposits and deposit substitutes shall be exempted from the 20% final tax; and (2) banks, finance companies and insurance premiums shall be exempted from the GrossReceipts Tax (GRT).
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.