Income Tax Exemption on Long-term Deposits

Ask AI

BIR REVENUE MEMORANDUM CIRCULAR NO. 18-2011: Income Tax Exemption on Long-term Deposits

Getting related questions...
What do you want to know about the law?
Your conversations and searches stay on your device. We do not store or track your activity on our servers. To know more about our privacy commitment see jur.ph/privacy Ask AI provides quick answers grounded in full case texts to avoid mistakes. Always verify with the original text.

Ask AI

Title Supreme Court: Income Tax Exemption on Long-term Deposits

Law: Bir Revenue Memorandum Circular No. 18-2011

Decision Date: Apr 12, 2011

Interest income from long-term deposits or investment certificates with a maturity of at least five years is exempt from income tax for individual citizens and resident aliens, provided certain conditions are met, while early termination incurs graduated tax rates.

income tax

tax exemption

interest income

END