Exemption of "PISO PARA SA MANLALARO" from Income and Business Taxes

November 28, 1990 BIR RULING NO. 223-90 30-h 321-87 223-90 S i r : This refers to your letter dated November 5, 1990, in effect requesting exemption from taxes of the proceeds that will be derived from your contemplated fund-raising campaign in connection with the Southeast Asian Games '91. It is represented that Manila will play host to the 16th Southeast Asian Games from November 24 to December 5, 1991; that preparations by the Manila Southeast Asian Games Organizing Committee (MANSOC) headed by the Hon. Secretary of Tourism, Peter D. Garrucho, Jr. are now underway; that as per Mansoc estimate, a total of P160.0 million is needed for capital and equipment expenditures and P105.0 million for operating expenses; that it is in the P160.0 million component that the government have participation; that the other P105.0 million will be financed out of the proceeds from international and local marketing rights, television and radio right and other donations and sponsors amounting to around P138.6 million; that as Chairman of the Committee on Youth and Sports Development of the House of Representatives, you will launch a fund-raising campaign temporarily called "PISO PARA SA MANLALARO" to help ease the burden of the government in hosting the Southeast Asian Games '91; that the campaign you have envisioned is for the Philippine Sports Commission, the Philippine Olympic Committee and Mansoc to put up fund-raising jars in all banks, government offices and commercial establishments all over the country; and that the fund drive will commence on December 1, 1990 and will end six (6) months thereafter, or on June 1, 1991. In reply thereto, please be informed that the proceeds to be derived from your aforementioned fund raising campaign entitled "PISO PARA SA MANLALARO" are not subject to income and business taxes. cdt Very truly yours, (SGD.) VICTOR A. DEOFERIO, JR. Deputy Commissioner