BIR Ruling [DA-121-00]

February 23, 2000 BIR RULING [DA-121-00] Maglasang & Uy Law Offices Room 310 FMSG Building 9 Balete Drive corner 3rd Street Quezon City Attention: Atty . Hector Danny D . Uy Gentlemen : This refers to your letter dated February 15, 2000 requesting on behalf of your client, the Pinagpalang Kamay Healing Ministry, Inc. for exemption from income tax of the proceeds to be derived from its "bingo" raising funds activity which will be held on March 5, 2000 for the benefit of the coming home retreat center, administering retreat, meditation and counselling services for the terminally ill patients. It is represented that the Pinagpalang Kamay Healing Ministry, Inc. is a non-stock, non-profit religious corporation duly registered with the Securities and Exchange Commission; that the primary purpose for which the corporation was formed is to operate exclusively for religious purposes; that no part of its income inures to the benefit of any private stockholder or individual; that all income from the operations of the Ministry are actually, directly and exclusively used for religious purposes; and that in order to financially support the said charitable project for the terminally ill patients, it is sponsoring the "Bongo 2000" on March 5, 2000. In reply, please be informed that the proceeds to be derived by the Pinagpalang Kamay Healing Ministry, Inc. for the holding of the said "Bingo 2000" specifically intended for the said project for the terminally ill patients, are not subject to income tax and business taxes. Such income, however, should be declared in the annual information return to be filed by your client on or before April 15, 2001 (BIR Ruling DA-26-98 dated January 29, 1998) Very truly yours, Commissioner of Internal Revenue By: (SGD.) SIXTO S. ESQUIVIAS IV Deputy Commissioner Legal and Enforcement Group