Monday, February 12, 2018
Fiscal Incentives - RA 10026 (Local Water Districts)
RA 10026 which lapsed into law on March 11, 2010 grants income tax exemption to Local Water Districts (LWD). Said exemption similarly situates LWDs with other GOCCs that are exempt from the payment of income tax per Section 27 of the NIRC, as amended. The amount that would have been paid as income tax and saved by LWDs shall be used for capital development expenditure in order to expand water services coverage and provide safe and clean water in the provinces, cities, and municipalities.
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