Income Generated by mutual fund shareholders are exempted from capital gains tax as stipulated in the comprehensive tax reform program.
Government and Government-owned and controlled corporation also offer shareholding to the public in the form of bonds or securities. Government securities are unconditional obligations of the State, and backed by its full taxing power, making them practically free from default.
Treasury bills are directed and unconditional obligations of the national government. they are issued by the BTr. They carry maturity of one year or less and can be traded in teh secondary market before maturity. Various tenors of T-bills exist. Banks that compromise majority of the Government Security Eligible Dealers bid for T-bills in the weekly auctions held by the BTr. Tha banks then resell the T-bills to investors.
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