National Commission for Culture and the Arts Exempt on All Its Income and Duty Obligations
BIR Ruling No. 090-94 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Apr 11, 1994
Full text
April 11, 1994 BIR RULING NO. 090-94 24 000-00 090-94 National Commission for Culture and the Arts House No. 8, Casa Blanca Plaza San Luis Complex General Luna Street Intramuros, Manila Attention: Carmen D . Padilla Executive Director/Commissioner Gentlemen : In reply to your letter dated February 14, 1994, please be informed that pursuant to Section 21 of Republic Act No. 7356 otherwise known as the "LAW CREATING THE NATIONAL COMMISSION FOR CULTURE AND THE ARTS", the National Commission for Culture and the Arts shall be exempt on all its income and duty obligations. Moreover, all materials that are reasonably necessary and are not manufactured or produced locally for the use of the Filipino artist shall be tax or duty free. Thus, the Commission is exempt from the payment of the 35% corporate income tax as well as the 20% final tax on its interest income derived from Philippine currency bank deposits and yield or any other monetary benefit from deposits substitutes and from trust fund and similar arrangements. Very truly yours, LIWAYWAY VINZONS-CHATO Commissioner of Internal Revenue
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