BIR Ruling [DA-055-97]

February 5, 1997 BIR RULING [DA-055-97] Congressional Spouses Foundation, Inc. Ground Floor, South Wing Building House of Representatives Quezon City Attention: Ms . Georgina P . De Venecia Chairperson and President Gentlemen : This refers to your letter dated January 21, 1997 stating that inspired by the much-heralded success of the Congressional Spouses Foundation, Inc. (CSFI) National Livelihood Trade Fair held last March 4-6, 1994 at the SM Mega Mall, the officers and members of the CSFI Committee have proposed to hold another "CSFI Super Sale '97 on March 7-9, 1997 at the same venue", that this project was conceptualized to serve as a showcase of some of the finest products unique to each province from all over the Country a wonderful opportunity to boost trade and industry nationwide; and that the proceeds of the said project will be used in sponsoring skills training sessions and in generating some livelihood opportunities for our people. Based on the foregoing representations, you are now requesting in effect for a ruling that the proceeds to be derived from your said project be exempt from payment of taxes. In reply thereto, please be informed that since the "CSFI Super Sale '97" to be held on March 7-9, 1997 at the SM Mega Mall is not a business pursuit and that the proceeds of the said project will be used in sponsoring skills training sessions and in generating some livelihood opportunities for our people, said proceeds to be derived by the Congressional Spouses Foundation, Inc. are not subject to income and business taxes. (BIR Rulings No. 057-94 dated February 11, 1994) cdt Very truly yours, ALICIA L. TOMACRUZ Head Revenue Executive Assistant (Legal Service)