Tax Withholding on Bank Deposit Interest

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PRESIDENTIAL DECREE NO. 1156: Tax Withholding on Bank Deposit Interest

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Title Source: Supreme Court: Tax Withholding on Bank Deposit Interest

Law: Presidential Decree No. 1156

Decision Date: Jun 3, 1977

Presidential Decree No. 1156 amends the National Internal Revenue Code in the Philippines to implement a withholding system for the collection of income tax on interest on bank deposits, ensuring that depositors declare their interest income in their income tax returns.

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