Revenue Regulations amending BIR-NEDA Regulations No. 1-82, as amended

December 9, 1982 REVENUE REGULATIONS NO. 10-82 SUBJECT : R evenue Regulations Amending BIR-NEDA Regulations No. 1-8 2, as Amended TO : All Internal Revenue Officers and Others Concerned Pursuant to the provisions of Executive Order No. 784 particularly Section 27 thereof and in accordance with Section 30(h) of the National Internal Revenue Code of 1977, as amended, the following regulations amending BIR-NEDA Regulations No. 1-81 as amended are hereby promulgated and shall be known as Revenue Regulations No. 10-82. SECTION 1 . Section 5 of BIR-NEDA Regulations No. 1-81 as amended is amended to read as follows: "Sec. 5. Registration Requirements and Procedures . In order to avail of the benefit set forth under Batas Pambansa Blg. 45, all donee institutions except the Government, must register with the "Government and Tax Exempt Corporation Division" of the BIR, within ninety (90) days from issuance of their corporate charter by the Securities and Exchange Commission. A. New Donee Institutions . Newly-created donee institutions applying for registration must file with the Government and Tax Exempt Corporation Division of the BIR the following statements/documents: (a) A sworn statement or affidavit showing: (i) the character of the organization; (ii) the purpose for which it is organized; (iii) its actual activities; (iv) lists of proposed projects; cd i (v) the sources of income and its disposition; and (vi) other facts relating to their operations which are relevant to their qualifications as donee institutions. (b) A copy of the charter or articles of incorporation, by-laws; (c) A financial statement showing the assets, liabilities, receipts and disbursements of the organization; and (d) A certificate from the National Science Technology Authority (NSTA) that the donee-institution is dedicated to scientific pursuits in case of NSTA-accredited foundations. B. Existing Donee Institutions . Existing donee institutions must, within ninety (90) days from the effectivity of these Regulations, apply for registration by filing with the Government and Tax Exempt Corporation Division of the BIR in addition to statements/documents required under paragraph A above, a certificate of previous registration issued allowing a limited or full deductibility of donations granted under P D 50 7, R A 2067, as amende d (NSTA-accredited foundations) or other special laws which had provided said deductibility. casia C. Certificate of Registration . If the Commissioner of Internal Revenue finds the application in order, he shall issue the Certificate of Registration under these Regulations. Donations to the organizations subsequent to the date of its Certificate of Registration shall qualify for the benefits prescribed in Batas Pambansa Blg. 45." SECTION 2 . Section 1, paragraph R of BIR-NEDA Regulations No. 1-82 dated July 8, 1982, is hereby amended to read as follows: "R. Utilization by a qualified donee' means "(a) any amount in cash or in kind (including administrative expenses) paid or utilized to accomplish one or more purposes for which it was created or organized; or "(b) any amount paid to acquire an asset used (or held for use) directly in carrying out one or more purposes for which the donee was created or organized, or "(c) any amount set aside for a specific project subject to the conditions provided for under Sec. 9 of the regulations; or "(d) Any amount in cash or in kind invested in any activity related to the purpose for which it was created or organized." cd i SECTION 3 . Effectivity . These regulations shall take effect upon approval. PLACIDO L. MAPA, JR. CESAR E.A. VIRATA Director-General Minister of Finance (NEDA) Recommending Approval: RUBEN B. ANCHETA Acting Commissioner