BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Mar 1, 1974
Full text
March 1, 1974 R.V. Faylona & Associates 11th Floor, Bldg., 1010 A. Mabini, Ermita Manila Gentlemen : In reply to your letter dated February 14, 1974, I have the honor to inform you that the contemplated donation by Watch Tower Bible and Tract Society of Pennsylvania, a religious corporation organized in the United States of America of 60% of its land in San Francisco del Monte, Quezon City, to the Watch Tower Bible and Tract Society of the Philippines, Inc., a domestic religious corporation, shall be exempt from the donor's tax, pursuant to Section 112(a)(3) of the Tax Code provided that the donee shall not use more than 30% of the gift for administration purposes. Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue TAN-1601-593-5
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