Bill Type
Congress Name
Long Title
AN ACT EXEMPTING THE INCOME AND RECEIPTS FROM LOANS USED TO FINANCE AGRICULTURALLY BASED AND/OR LOCATED ACTIVITIES AND BUSINESSES FROM TAXES
Date filed
January 8, 2002
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 4179, 12th Congress of the Republic |
| FULL TITLE : AN ACT EXEMPTING THE INCOME AND RECEIPTS FROM LOANS USED TO FINANCE AGRICULTURALLY BASED AND/OR LOCATED ACTIVITIES AND BUSINESSES FROM TAXES |
| ABSTRACT : All income and receipts from loans used to finance agriculturally based, related and/or located activities and businesses shall be exempted from all taxes, including gross receipts and income tax. Given this opportunity, our farmers will be able touse the savings from the exemption to uplift their production. This will also raise their social and economic standard. |
| PRINCIPAL AUTHOR/S : GARIN, OSCAR G. |
| DATE FILED : 2002-01-08 |
| SIGNIFICANCE: NATIONAL |
| CO-AUTHORS (Journal Entries) : |
| 1. Monfort (067 ) |
| ADMINISTRATION BILL? No |
| URGENT BILL? No |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2002-01-15 |
Abstract
All income and receipts from loans used to finance agriculturally based, related and/or located activities and businesses shall be exempted from all taxes, including gross receipts and income tax. Given this opportunity, our farmers will be able touse the savings from the exemption to uplift their production. This will also raise their social and economic standard.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.