Proceeds from Commercial Spot Sales in "Paano Kita Malilimutan" TV Special Not Subject to Income and Business Taxes
BIR Ruling No. 111-86 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Jul 11, 1986
Full text
July 11, 1986 BIR RULING NO. 111-86 30 (h) 111-86 Gentlemen : In reply to your letter dated May 16, 1986, I have the honor to inform you that the proceeds to be derived by the Ateneo de Manila College Glee Club through commercial spot sales in connection with its production of a television special entitled "Paano Kita Malilimutan" on the occasion of its 65th anniversary whose primary objectives are to provide a show that is both entertaining and relevant and to raise funds for the construction of a People's Church in EDSA are not subject to income and business taxes. Moreover, contributions and/or donations to the Ateneo de Manila Glee Club a cultural organization are deductible for income tax purposes but only to the extent of 6% in the case of an individual donor, and 3% in the case of a corporate donor, of the donor's taxable net income as computed without the benefit of said deduction. cdtech Very truly yours, (SGD.) BIENVENIDO A. TAN, JR. Commissioner
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