Republic Acts1 min read
Section 12Sec./Art. 12
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Section 42 of the National Internal Revenue Code of 1997, as amended, is hereby further amended to read as follows:
"Section 42. Income from Sources Within the Philippines. -
(A) Gross Income from Sources Within the Philippines. - x x x
(1) Interests. - Interests or yield from debt instruments, bank deposits, deposit substitutes, trust funds, and other similar arrangements, such as bonds, notes, or other interest-bearing obligation of residents, corporate or otherwise, including debt instruments or debt securities issued by the government or any of its agencies or instrumentalities;
x x x."
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