Section 1December 19, 1991, Sec./Art. 1

The first paragraph of item (1), paragraph (l) of Section 29 of the National Internal Revenue Code, as amended, is hereby further amended to read as follows:

"(l) Personal exemptions allowable to individuals. (1) Basic personal exemption. For the purpose of determining the tax provided in Section 21(a) of this Title, there shall be allowed a basic personal exemption as follows:

"For single individual or married individual judicially decreed as legally separated with no qualified dependents

P9,000

"For head of a family

P12,000

"For married individual

P18,000

Provided, that husband and wife electing to compute their income tax separately shall be entitled to a personal exemption of P9,000 each."