Mr. Rafael A. Esmundo
SEC Opinion • Securities and Exchange Commission • Opinions • Oct 19, 1993
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October 19, 1993 Mr. Rafael A. Esmundo Movement for Development and Prosperity (MDP) Foundation, Inc. 72 Adrian St., North Fairview, Quezon City S i r : This refers to your letter of October 7, 1993 requesting this Commission to grant tax exemption privilege to donors for their donations to Movement Development and Prosperity (MDP) Foundation, Inc., a non-profit, non-stock voluntary organization committed to supporting, developing and strengthening health, population and development programs. Please be advised that the Securities and Exchange Commission is not authorized to grant tax exemptions. This power is vested with the Bureau of Internal Revenue . It is, therefore, suggested that you address your request to that Office. Very truly yours, (SGD.) SONIA M. BALLO Director Corporate and Legal Department
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