BIR Ruling [DA-062-05]

February 23, 2005 BIR RULING [DA-062-05] 101 (A) (3) DA 254-00 Cogeo Christian Church, Inc . L18 B60 R21 Cogeo Village, Barangay Bagong Nayon Antipolo City Attention: Mr . Moises E. Ramos Gentlemen : This refers to your letter dated February 12, 2005 requesting for exemption from the payment of donor's tax over a parcel of land donated by Spouses Elmer M. Tandayu and Jocelyn R. Tandayu (Spouses Tandayu) in favor of the Cogeo Christian Church, Inc. It is represented that the Cogeo Christian Church, Inc., is a religious corporation duly registered with the Securities and Exchange Commission (SEC) under SEC Registration No. 186848 dated February 11, 1991; that on the other hand, Spouses Tandayu are the absolute and registered owners of a parcel of land located in Antipolo City covered by TCT No. 254153 issued by the Registry of Deeds for Marikina with an area of 240 square meters; and that on October 5, 2004, a Deed of Donation was executed by Spouses Tandayu in favor of the Cogeo Christian Church, Inc. In reply thereto, please be informed that inasmuch as the donee is a religious corporation, the aforementioned donation is exempt from the payment of donor's tax pursuant to Section 101(A)(3) of the Tax Code of 1997, subject to the condition that not more than 30% of said gift shall be used by the donee for administration purposes. Moreover, the Deed of Donation is not subject to documentary stamp tax. However, the acknowledgment on said deed is subject to the documentary stamp tax of P15.00 imposed under Section 188 of the Tax Code of 1997. ( BIR Ruling No . DA254-00 dated June 02, 2000 ) This ruling is being issued on the basis of the foregoing facts as represented. However, if upon investigation, it will be disclosed that the facts are different, then this ruling shall be considered null and void. EaICAD Very truly yours, (SGD.) JOSE MARIO C. BUAG Deputy Commissioner Legal and Inspection Group