Proceeds Derived from the Musical Extravaganza "Reach Out `85" Not Subject to Income and Business Taxes
BIR Ruling No. 191-85 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Oct 28, 1985
Full text
October 28, 1985 BIR RULING NO. 191-85 24 157-85 191-85 Gentlemen : In reply to your letter dated July 8, 1985, I have the honor to inform you that the proceeds derived from the musical extravaganza entitled "Reach Out `85" held by you on July 27, 1985 at the Araneta Coliseum in connection with your 1985 Annual Fund Campaign are not subject to income and business taxes. Under Proclamation No. 2386 dated October 22, 1984, contributions and collections derived by you from the campaign are exempt from all taxes. cdtech Very truly yours, (SGD.) TOMAS C. TOLEDO Acting Commissioner
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