Request for Exemption from Tax on the Proceeds of the Concert Sponsored by a University

March 13, 1991 BIR RULING NO. 044-91 29 (h) 111-90 044-91 Gentlemen : This refers to your letter dated October 31, 1990 requesting exemption from tax on the proceeds of the concert sponsored by that University in celebration of the Ignatian Jubilee year. It is represented that to commemorate of the 500th anniversary of the birth of St. Ignatius and the 450th Anniversary of the Foundation of the Society of Jesus, the Ateneo de Davao University will sponsor a concert entitled Konsiyerto . . . Alay Kay Ignacio, to be participated in by the Carillon College Glee Club, Sub-Dominant 7 (College), High School Glee Club, and the Grade School Glee Club; that the remaining proceeds after meeting the expenses of the concert, will be given to the street children of Davao through the Foundation of Balay Pasilungan, Inc. In reply, please be informed that the proceeds derived by the Ateneo de Davao University in connection with the holding of the concert are not subject to income and business taxes. Such income, however, should be declared in the annual information return to be filed by the tax exempt organization which is the Foundation of Balay Pasilungan, Inc. Very truly yours, (SGD.) JOSE U. ONG Commissioner