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g. Benefits received from the GSIS under R.A. No. 8291 including
retirement guaranty.
B. EXCLUSIONS FROM GROSS INCOME
7. Miscellaneous Items -
a. Income received by foreign governments from their
investments in the Philippines.
Reason: To lessen the burden of foreign loans inasmuch as the
interest of these loans are, by contractual arrangement, borne by the
domestic borrowers. Foreign governments include financing
institutions owned, controlled and financed by them and
international or regional financing institutions established by
governments.
i. Prizes received in charity, horse racing, sweepstakes from the PCSO (R.A.
No. 1169)