Fiscal Incentives - RA 9679 (HDMF)

RA 9679 or the Home Development Mutual Fund (HDMF) Law of 2009 intends to strengthen the “Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industriya at Gobyerno” (Pag-IBIG) Fund by establishing, developing, promoting and integrating a nationwide, sound and viable tax-exempt mutual provident savings system suitable to the needs of the employed and other earning groups, with mandatory contributory support of their employers in the spirit of social justice and the pursuit of national development.

The HDMF Fund, most commonly known as the Pag-IBIG Fund, is a unified endeavor that aims to provide an affordable housing and shelter system to its members.

To attain this, the HDMF Law of 2009 provides that all of its assets and properties, all contributions collected and all accruals thereto and income or investment earnings therefrom, as well as supplies, equipment, papers or documents shall be exempt from any tax, assessment fee, charge or custom
or import duty; and all benefit payments made by the Pag-IBIG Fund shall likewise be exempt from all kinds of taxes, fees, or charges, and shall not be liable to attachment, garnishments, levy or seizure by or under any legal or equitable process whatsoever, either before or after receipt by the person or
persons entitled thereto, except to pay any debt of the members to the Fund.