An Act Granting Tax Exemption to Minors' Deposit Account, Amending for the Purpose the National Internal Revenue Code of 1997, as Amended
The Kiddie Savers Financial Literacy Act would let children’s bank accounts earn interest without paying tax, as long as the total balance stays below PhP200,000 and each parent contributes no more than PhP50,000.
Automated summary by BatasWatch. It may miss nuance — read the bill text before citing it.
Printed from CivicSync PH: https://civicsync-ph-gamma.vercel.app/bills/SBN-1768. Status changes over time; check the link for the latest.
SBN-1768 · Sources: BatasWatch
Similar in what they’d do, filed by any lawmaker.