Exemption of an Organization from All Taxes

May 29, 1990 BIR RULING NO. 105-90 29 (b) 522-88 105-90 Gentlemen : This refers to your letter dated February 27, 1989 stating that you are a non-stock, non-profit organization duly registered with the Securities and Exchange Commission; that you are composed of four member schools namely: Ateneo, Assumption, Maryknoll and University of the Philippines; that your main thrust is to reconcile social responsibility with the practical business experience of your member students; that on March 11, 1989, you sponsored a Basil Valdez Concert at the Ateneo de Manila High School Covered Courts; and that the show was for the benefit of the IBA Scholarship Fund, The Dazer's Foundation of Mr. Basil Valdez and the Tatalon Community Development Program, where a livelihood project is about to be set up. cdtech Based on the foregoing, you request exemption from all taxes that your organization may incur. In reply, pleased be informed that the proceeds derived by you in connection with the Basil Valdez Concert which you sponsored on March 11, 1989 at the Ateneo de Manila High School Covered Courts, the proceeds of which shall be applied for the benefit of the IBA Scholarship Fund, the Dazer's Foundation of Mr. Basil Valdez and the Tatalon Community Development Program, are not subject to income tax and from the amusement tax imposed under Section 123 of the Tax Code, as amended. Very truly yours, (SGD.) JOSE U. ONG Commissioner