Q^v Republic of the Philippines

MINISTRY OF FINANCE Office of the Minister Manila

MINISTRY ORDER NO.

39-84

CLARIFYING THE SCOPE OF PRESIDEN IAL DECREE NO. 1955 Pursuant to the provisions of Section 2 of Presidential -Decree No. 1955, the following additional regulations are hereby prescribed. SECTION 1. The withdrawal of exemptions from, or any preferential treatment in, the payment of duties, taxes, fees, imposts and other charges as provided for under Presidential Decree No. 1955, does not apply to exemptions or preferential treatment embodied in the following laws:

a.

The National Internal Revenue Code, as amended;

b.

The Tariff and Customs Code, as amended;

c.

The Local Tax Code as amended; and

d.

The Real Property Tax Code.

SEC. 2. Notwithstanding the provisions of Section 1(a) above, any exemption from or preferential treatment in the tax on interest income from bank deposits and yield or.any other monetary. benefit from deposit substitutes, trust funds and other similar arrangements shall remain withdrawn pursuant to Sections 21(d), 24(cc) and 53(d)(1) of the National Internal Revenue Code, as amended.

SEC.. 3.

This Order shall take,effect October 15, 1984..

L-ILR: edt

"Tsang Bansa, Isang Diwa"

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