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Non-stock, non-profit corporations are exempt from the payment of income tax on income received by them as such organization. However, they are subject to the corresponding internal revenue taxes imposed under the tax Code of 1997. Interest income derived by them from currency bank deposits and yield or any other monetary benefit from deposit substitute instruments are subject to 20% final withholding tax.
Non-stock, non-profit corporations are exempt from the payment of income tax on income received by them as such organization. However, they are subject to the corresponding internal revenue …