BIR Ruling [DA-694-99]

December 16, 1999 BIR RULING [DA-694-99] Atty . Julia A . Reyes Faculty of Law Manuel Luis Quezon University Quiapo, Manila M a d a m : This refers to your letter dated December 14, 1999 requesting information as to whether or not there is a need to secure a permit from this office on connection with the holding of a benefit concert of the Kislap-Diwa, Inc . It is represented that the Kislap-Diwa, Inc ., a non-stock, non-profit corporation, in cooperation with the MLQU School of law Student Council will hold a benefit concert by Sandwich, Imago, I/Axe, Scarabs, Rajah, Cherry Bomb and either the Eraserheads or the Parokya ni Edgar band on February 18, 2000 at the MLQU School of law grounds, Quiapo, Manila; and that the proceeds of the concert will go to the bar review program, the update of the Law Library, the Kislap-Diwa law scholarship program and an educational program for conceiving mothers, an on-going concern of the Joyful Genius Research Haus which aims to establish eventually a multiversity. In reply, please be informed that there is no need for the Kislap-Diwa, Inc . to secure a permit from this office in connection with the holding of the aforementioned band concert. Moreover, the proceeds to be derived therefrom are not subject to income and business taxes. Such income however, should be declared in the annual information return to be filed by Kislap-Diwa, Inc . on or before April 15, 2000 (BIR Ruling No. DA-026-98 dated January 29, 1998). cdlex Very truly yours, (SGD.) SIXTO S. ESQUIVIAS IV Deputy Commissioner Legal and Enforcement Group