Non-stock Non-Profit Private Corporation is Exempt from Taxes and Duties on Its Revenue and Assets Used for Educational Purposes
BIR Ruling No. 340-87 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Nov 3, 1987
Full text
November 3, 1987 BIR RULING NO. 340-87 19 000-00 340-87 Gentlemen : This refers to your letter dated February 20, 1987 in effect requesting for a ruling that you are exempt from taxes and duties on both your revenue and assets. It is represented that you are a non-stock and non-profit private corporation, operated and maintained to serve students in the international community; and that you provide a British type system of education primarily in preparation for school in Europe of the secondary level and below. In reply, please be informed that based on the foregoing facts, you are exempt from taxes and duties on your revenue and assets used actually, directly and exclusively for educational purposes, pursuant to Article XIV, Section 4, par. 3 of the 1987 Constitution stating: "(3) all revenue and assets of non-stock, non-profit educational institution used actually, directly and exclusively for educational purposes shall be exempt from taxes and duties, . . . (Emphasis supplied) Very truly yours, (SGD.) EUFRACIO D. SANTOS Deputy Commissioner
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