Proceeds of a Benefit Show by Sagip Foundation are Not Subject to Income and Business Taxes
BIR Ruling No. 306-87 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Sep 25, 1987
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September 25, 1987 BIR RULING NO. 306-87 30-h 194-86 306-87 Gentlemen : In reply to your letter dated September 23, 1987, I have the honor to inform you that the proceeds to be derived by the SAGIP FOUNDATION, INC. in connection with the showing of the benefit show entitled "PASAN KO ANG DAIGDIG" on September 29, 1987 at 7:30 in the evening at the Delta Theater, the proceeds of which shall be applied to the projects of said Foundation for out-of-school youths, scholarship programs and the prevention of drug abuse, are not subject to income and business taxes. aisadc Very truly yours, (SGD.) EUFRACIO D. SANTOS Deputy Commissioner
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