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Interest income from a depository bank under the expanded foreign currency deposit system is taxed at the rate of 15%. [3] Income from long-term deposits and investments, when pre-terminated in less than three years after making such deposit or investment, is taxed at the rate of 20%; less than four years, 12%; and, less than five years, 5%. [2]
An Act Designating Casinos as Covered Persons under Republic Act No. 9160, known as the "Anti-Money Laundering Act of 2001" July 14, 2017 [2] 10928 Amending Section 10 of Republic Act No. 8239, known as the "Philippine Passport Act of 1996" August 2, 2017 [3] 10929 Free Internet Access in Public Places Act August 2, 2017 [4] 10930
In 1960, Congress passed a law, which changed the composition of the National Economic Council through Republic Act No. 2699 [15] enacted on June 18, 1960. The law increased the council's membership by including the Secretary of Commerce and Industry and granting the minority party representation in the membership of the National Economic Council.
Annual contributions qualify for tax deduction under Section 80C of income tax as per the old Tax regime. The tax benefit is capped at ₹1.5 lacs per financial year. PPF falls under the EEE (Exempt, Exempt, Exempt) tax basket. Contribution to the PPF account is eligible for tax benefit under Section 80C of the Income Tax Act in the old Tax ...
Many states have adopted an optional provision to limit the spending to 7% unless the board can show that the spending meets UPMIFA's standards of prudence. This board-approved spending policy must be based on the average market value of the endowment investments over the 12 quarters (or more) immediately preceding the calculation.
Russia said Friday it had arrested suspected members of a Colombian cartel trying to smuggle tens of millions of dollars worth of cocaine into Europe.. The suspects were caught loading 570 ...
The Baseball Hall of Fame ballot is being mailed to 400 members of the Baseball Writers Association of America this week, and that ballot includes 14 candidates appearing for the very first time.
Temporarily Modifying the Rates of Import Duty on Rice Under Section 1611 of Republic Act No. 10863, Otherwise Known as the "Customs Modernization and Tariff Act" [135] 136 Creating the Philippine Trade Facilitation Committee in Compliance With the World Trade Organization – Trade Facilitation Agreement May 18, 2021 [136] 137