Legislative History
| House Bill/Resolution NO. House Bill No. 4730, 12th Congress of the Republic | |
| FULL TITLE : AN ACT PROVIDING FULL TAX AND DUTY EXEMPTION BENEFITS TO NON-STOCK, NON-PROFIT CIVIC, CHARITABLE, RELIGIOUS AND EDUCATIONAL ASSOCIATIONS AND OTHER SUCH ORGANIZATIONS NOT ORGANIZED FOR PROFIT BUT OPERATED EXCLUSIVELY FOR SOCIAL WELFARE, AMENDING FORTHIS PURPOSE SECTION 30 OF REPUBLIC ACT NO. 8424, OTHERWISE KNOWN AS THE TAX REFORM ACT OF 1997 AND FOR OTHER PURPOSES | |
| ABSTRACT : The proposed AMENDMENT to Section 30 of RA No. 8424 states as follows: "INCOME DERIVED FROM ANY PROPERTY, REAL OR PERSONAL SUCH AS SALE OR LEASE OR FROM ANY ACITIVITY, OR FROM WHATEVER SOURCE, KIND OR CHARACTER INCLUDING INTEREST INCOME AND CAPITALGAINS, WHICH WILL BE USED ACTUALLY, DIRECTLY AND EXCLUSIVELY IN FURTHERANCE OF THE PURPOSES OF THE FOREGOING ACCREDITED BY THE DSWD OR SUCH AGENCY OR BODY AS MAYBE DESIGNATED BY THE GOVERNMENT, SHALL BE EXEMPT FROM ALL NATIONAL AND LOCAL TAXES; PROVIDED TAHT DONATIONS IN WHATEVER FORM TO SUCH NON-STOCK, NON-PROFIT ORGANIZATIONS SHALL BE EXEMPT FROM DONORS TAXES UPON PRESENTATION OF SAID DONEE'S ACCREDITATION TO THE DEPARTMENT OF FINANCE; PROVIDED FINALLY THAT NO PART OF THE ABOVE INCOMES, DONATIIONS OR IMPORTATIONS SHALL BELONG TO OR INURE TO THE PERSONAL BENEFITS OF ANY MEMBER, ORGANIZER OR OFFICER THEREOF OR ANY SPECIFIC PERSON." | |
| PRINCIPAL AUTHOR/S : GORDON, JAMES JR. J. | |
| DATE FILED : 2002-04-30 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Ylagan (083 ) | 2. Umali (083 ) |
| 3. Del Mar (092 ) | 4. Violago (028 ) |
| 5. Espino (035 ) | |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2002-05-07 |
Abstract
The proposed AMENDMENT to Section 30 of RA No. 8424 states as follows: "INCOME DERIVED FROM ANY PROPERTY, REAL OR PERSONAL SUCH AS SALE OR LEASE OR FROM ANY ACITIVITY, OR FROM WHATEVER SOURCE, KIND OR CHARACTER INCLUDING INTEREST INCOME AND CAPITALGAINS, WHICH WILL BE USED ACTUALLY, DIRECTLY AND EXCLUSIVELY IN FURTHERANCE OF THE PURPOSES OF THE FOREGOING ACCREDITED BY THE DSWD OR SUCH AGENCY OR BODY AS MAYBE DESIGNATED BY THE GOVERNMENT, SHALL BE EXEMPT FROM ALL NATIONAL AND LOCAL TAXES; PROVIDED TAHT DONATIONS IN WHATEVER FORM TO SUCH NON-STOCK, NON-PROFIT ORGANIZATIONS SHALL BE EXEMPT FROM DONORS TAXES UPON PRESENTATION OF SAID DONEE'S ACCREDITATION TO THE DEPARTMENT OF FINANCE; PROVIDED FINALLY THAT NO PART OF THE ABOVE INCOMES, DONATIIONS OR IMPORTATIONS SHALL BELONG TO OR INURE TO THE PERSONAL BENEFITS OF ANY MEMBER, ORGANIZER OR OFFICER THEREOF OR ANY SPECIFIC PERSON."
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.