Manaoag Utility Co., Inc.
FIRB Resolution No. 037-85 • Fiscal Incentives Review Board • Resolutions • May 17, 1985
Full text
May 17, 1985 FIRB RESOLUTION NO. 037-85 SUBJECT : Manaoag Utility Co . , Inc . BE IT RESOLVED, AS IT IS HEREBY RESOLVED, That: 1. The preferential tax treatment of Manaoag Utility Co., Inc. under Sec. 267(b) of the National Internal Revenue Code, as amended, is not affected by P.D. 1955 by virtue of Ministry Order No. 39-84. cdt 2. However, its interest income from bank deposits and yield or any other monetary benefit from deposit substitutes, trust funds and similar arrangements shall be subject to the 15% final withholding tax. (SGD.) CESAR E. A. VIRATA Minister of Finance Chairman, FIRB
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