Tax Exemption of the Proceeds of a Concert Sponsored by a Non-stock Non-profit Organization
BIR Ruling No. 245-92 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Sep 2, 1992
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September 2, 1992 BIR RULING NO. 245-92 29 (h) 44-91 245-92 Shekhinak Glory Foundation Sucat Road, Paraaque Metro Manila Attention: Ms . Terri L . Aldequer Director Gentlemen : This refers to your letter dated August 18, 1992 requesting exemption from tax on the proceeds of the concert to be sponsored by you on September 11, 12 and 13, 1992 at the auditorium of the Benedictine Abbey School, Alabang Hills Village, Muntinlupa. It is represented that Shekhinak Glory Foundation is a non-stock, non-profit organization; that in order to support the various ministries of the Full Gospel Business Men Fellowship Int'l. (Philippines) it is sponsoring the Peacemaker Chorale in their musical concert entitled "Time Well Spent." In reply, please be informed that the proceeds to be derived by you in connection with the holding of the above concert are not subject to income and business taxes. Such income, however, should be declared in the annual information return to be filed by you on or before April 15, 1993. casia Very truly yours, JOSE U. ONG Commissioner of Internal Revenue
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