REPUBLIC ACT No. 2062

An Act to Exempt Awards Given by the Ramon Magsaysay Award Foundation from the Payment of Income, Gift and All Other Taxes

Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:

Section 1. The provisions of any existing law to the contrary notwithstanding, all awards given by the Ramon Magsaysay Award Foundation shall be exempted from the payment of income, gift and all other taxes.

Section 2. This Act shall take effect upon its approval.

Approved: June 13, 1958.

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