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RMC No. 46-2010: Circularizes Sec. 35 of Republic Act No. 10066 entitled “An Act Providing for the Protection and Conservation of the National Cultural Heritage, Strengthening the National Commission for Culture and Arts (NCAA) and Its Affiliated Cultural Agencies, And For Other Purposes”

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Summary

RMC No. 46-2010 circularizes Section 35 of Republic Act No. 10066 on the protection and conservation of the national cultural heritage, which provides tax exemptions on donations.

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Key points

  1. Donor’s tax exemption. All donations in any form to the Commission and its affiliated cultural agencies are exempt from donor’s tax.
  2. Deduction from gross income. These donations are an allowable deduction from the donor’s gross income in computing income tax, in accordance with the National Internal Revenue Code of 1997, as amended.
  3. Enactment dates. The law was signed on March 26, 2010 and published in a newspaper of general circulation on April 21, 2010.

Who is affected

  • Donors to the Commission and its affiliated cultural agencies

Deadlines and effectivity

  • RA No. 10066 signed March 26, 2010
  • Published April 21, 2010

Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.

Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.