PHILIPPINE LAWS, STATUTES, CODES & ISSUANCES
PHILIPPINE LAWS, STATUTES AND CODES
REPUBLIC ACTS
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REPUBLIC ACT NO. 3676 - AN ACT
EXEMPTING THE RAMON MAGSAYSAY AWARD FOUNDATION FROM THE PAYMENT OF
TAXES AND FEES, WHETHER NATIONAL OR LOCAL, AS WELL AS CONSTRUCTIONS,
GIFTS AND DONATIONS GIVEN THERETO
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Section
1. The provisions of existing laws or ordinances to
the contrary notwithstanding, the Ramon Magsaysay Award Foundation
shall be exempt from the payment of all taxes, whether national or
local, and from such fees and other charges as are or may be imposed by
the Central Bank or other government entities.
Sec. 2. All gifts, contributions and donations to the Foundation shall be considered allowable deductions for purposes of determining the income tax of the donor, and shall be exempt from the payment of the taxes imposed under Title III of the National Internal Revenue Code. Sec. 3. This Act shall take effect upon its approval. Approved: June 22, 1963 |