Bill Type
Congress Name
Long Title
AN ACT ALLOWING AS DEDUCTION FROM THE GROSS INCOME CONTRIBUTIONS MADE BY INDIVIDUALS, GROUPS OR COMPANIES TO ANY CANDIDATE/S OR POLITICAL PARTY/IES DURING ELECTIONS, AMENDING FOR THE PURPOSE SECTION 34 OF REPUBLIC ACT NO. 8424, OTHERWISE KNOWN AS `THE TAX REFORM ACT OF 1997'
Date filed
August 7, 2001
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 2127, 12th Congress of the Republic | |
| FULL TITLE : AN ACT ALLOWING AS DEDUCTION FROM THE GROSS INCOME CONTRIBUTIONS MADE BY INDIVIDUALS, GROUPS OR COMPANIES TO ANY CANDIDATE/S OR POLITICAL PARTY/IES DURING ELECTIONS, AMENDING FOR THE PURPOSE SECTION 34 OF REPUBLIC ACT NO. 8424, OTHERWISE KNOWN AS `THE TAX REFORM ACT OF 1997' | |
| ABSTRACT : Rationale: Very qualified people, more often than not, are not able to participate in politics because of lack of funds, thus, discouraging them to offer their service to the country. On the other hand, well meaning individuals and or business organizations or groups are not abl;e to contribute because under the existing laws, these contributions are deductible from the gross income, thus included in the taxable income. | |
| PRINCIPAL AUTHOR/S : ESPINA, GERARDO S. | |
| DATE FILED : 2001-08-07 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Amin (013 ) | 2. Espino (035 ) |
| 3. Monfort (013 ) | 4. Syjuco (023 ) |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2001-08-13 |
Abstract
Rationale: Very qualified people, more often than not, are not able to participate in politics because of lack of funds, thus, discouraging them to offer their service to the country. On the other hand, well meaning individuals and or business organizations or groups are not abl;e to contribute because under the existing laws, these contributions are deductible from the gross income, thus included in the taxable income.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.