BIR Ruling No. 353-12

May 21, 2012 BIR RULING NO. 353-12 Sec. 101 (A) (3) of the Tax Code of 1997; BIR Ruling No. 387-11; BIR Ruling No. 300-11 Philippine Baptist S.B.C.,Inc. 2715 Park Avenue, Pasay City Attention: Jesher J. Arsenio Executive Secretary Gentlemen : This refers to your letter dated September 26, 2011 requesting for exemption from the payment of donor's tax on the donation of land in favor of the Philippine Baptist Theological Seminary, Inc. It is represented that the Philippine Baptist S.B.C.,Inc. with Tax Identification Number 002-563-757-000 is the owner of parcels of land located at Baguio City covered by TCT No/s. T-25575, T-25576, T-25577, T-25578, T-25579, T-25583, T-25568, T-25580, T-25581 and T-25582 issued by the Registry of Deeds for the City of Baguio and containing areas of 6,709 square meters, 6,719 square meters, 1,172 square meters, 750 square meters, 750 square meters, 5,514 square meters, 4,833 square meters, 493 square meters, 495 square meters and 557 square meters, respectively; that on the other hand Philippine Baptist Theological Seminary, Inc. with Tax Identification Number 000-724-543-000 is a religious corporation duly organized and existing under the laws of the Philippines and registered with the Securities and Exchange Commission (SEC) under SEC Registration No. CN200806876; and that on September 28, 2011, a Deed of Donation was executed whereby Philippine Baptist S.B.C.,Inc. transfers and conveys the above-mentioned subject properties to the Philippine Baptist Theological Seminary, Inc. ECDaAc In reply thereto, please be informed that inasmuch as the donee is a religious corporation, the aforementioned donation is exempt from the payment of donor's tax pursuant to Section 101 (A) (3) of the Tax Code of 1997, subject to the condition that not more than 30% of said gift shall be used by the donee for administration purposes. Moreover, the Deed of Donation is not subject to documentary stamp tax. However, the acknowledgment on said deed is subject to the documentary stamp tax of P15.00 imposed under Section 188 of the Tax Code of 1997, as amended. (BIR Ruling No. 387-11 dated October 18, 2011 and BIR Ruling No. 300-11 dated May 12, 2011) This ruling is being issued on the basis of the foregoing facts as represented. However, if upon investigation it will be disclosed that the facts are different, then this ruling shall be considered null and void. Very truly yours, (SGD.) KIM S. JACINTO-HENARES Commissioner of Internal Revenue