BIR Ruling No. 112-11

April 12, 2011 BIR RULING NO. 112-11 Section 30 (E) of the Tax Code of 1997; BIR Ruling No. [NSNP-(S30E-042) 242-09]; Section 101 (A) (3) President Carlos P. Garcia Foundation, Incorporated Penthouse A, CPG Mansion, 41 Sgt. Esguerra Street, Q.C. Attention: Atty. Fernando C. Campos Secretary Gentlemen : This refers to your request indorsed by Revenue Region No. 13 on 10 August 2009 for exemption from the payment of donor's tax pursuant to Section 101 (A) (3) of the 1997 Tax Code, as amended. aHSCcE It is represented that President Carlos P. Garcia Foundation, Incorporated with Taxpayer's Identification No. 004-828-824-000, is duly organized under the laws of the Philippines; that it is registered with the Securities and Exchange Commission (SEC) under Registration No. 112221; and that the purposes for which it was incorporated are the following: 1.) Principal: a. To honor the late CARLOS P. GARCIA, President of the Philippines, and perpetuate his memory by giving concrete recognition and meaning to those ideals which and characterized his public life and the patriotic services which he rendered to his country particularly in the context of his Policy; b. To help advance public welfare by what it can feasibly contribute to the solution of social, economic and political problems of national and regional (ASEAN) importance with emphasis on the conservation and utilization of the natural resources of the Philippines for the benefit of the Filipino people; c. To encourage and support the writing of the biographies of outstanding Filipino nationalists and the compilation thereof as part of our national legacy; and d. To acquire properties, real or personal; receive contributions, gifts, bequests, legacies and donations here and abroad from members and non-members who believed in the ideals of CARLOS P. GARCIA; engage the services of persons and firms, invests its funds, moneys and properties as the Foundation may wish or need from time to time, to carry out its purpose and objectives. 2.) Secondary: a. To establish and manage the Ancestral House, lot and memorabilia of the late President in Tagbilaran City to perpetuate his memory; and b. To act as trustee, manager or co-developer of an enterprise with other entities, local or foreign to expand and perpetuate the life and works as a former leader of the Filipino people. In reply, please be informed that this Office grants tax exemption on the payment of donor's tax on the lot (TCT No. (3294) T-2331, under Tax Declaration No. 2008-3L-0073) bequeathed to the President Carlos P. Garcia Foundation, Incorporated by the heir of the late President to be used as a Museum-Heritage site by the National Historical Institute (NHI). In as much as President Carlos P. Garcia Foundation, Incorporated is a cultural organization, donations to it are exempt from the payment of donor's tax pursuant to Section 101 (A) (3) of the Tax Code of 1997, as amended, subject to the condition that not more than thirty percent (30%) of said gift shall be used for administration purposes. (BIR Ruling No. [NSNP-(S30E-042) 242-09] dated March 31, 2009) This ruling is being issued on the basis of the foregoing facts as represented. However, if upon investigation, it will be ascertained that the facts are different, then this ruling shall be considered null and void. ISDCHA Very truly yours, (SGD.) KIM S. JACINTO-HENARES Commissioner of Internal Revenue