BIR Ruling [UN-372-95]

October 11, 1995 BIR RULING [UN-372-95] Local Superior of the Franciscan Missionary Sisters of the Sacred Heart, Inc. Calbayog City Attention: Sr . Doretta Martines Local Superior Mesdames : This refers to your letter dated May 19, 1995, requesting exemption from the payment of donor's tax and documentary stamp tax pursuant to Section 94(a) (3) of the Tax Code, as amended, of the donation made in your favor by Ms. Manuela Rosales of a residential lot and building located at the corner of Bugallon and Rueda Sts., Calbayog City, containing an area of Seven Hundred Ninety-Three square meters (793 sqms.) more or less, and covered by Original Certificate of Title No. 6 of the Register of Deeds of Calbayog and Tax Declaration No. 43268. Documents submitted disclosed that the Local Superior of the Franciscan Missionary Sisters of the Sacred Heart, Inc. is a non-stock, non-profit religious corporation duly registered with the Securities & Exchange Commission under Registration No. 165726 dated July 11, 1989. In reply, please be informed that as a donee religious institution, the aforementioned donation to you is exempt from the payment of donor's tax pursuant to Section 94(a)(3) of the Tax Code, as amended, subject to the condition that not more than 30% of said gift shall be used by the donee for administration purposes. Moreover, the aforesaid Donation is not subject to the documentary stamp tax prescribed under Section 196 of the Tax Code, as amended, but only to the documentary stamp tax of P10.00 imposed under Section 188 of the same Code [BIR Ruling No. 94(a)(3) 301-92-452-93 dated November 19, 1993]. liblex Very truly yours, ALICIA P. CLEMENO Assistant Commissioner (Legal Service) By: ALICIA L. TOMACRUZ Head Rev. Executive Assistant (Legal Service)