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RMC No. 59-2010: Circularizes Sections 5(c) and 6 of Republic Act No. 10072 entitled “An Act Recognizing the Philippine National Red Cross as an Independent, Autonomous, Non-Governmental Organization Auxiliary to the Authorities of the Republic of the Philippines in the Humanitarian Field, to be known as the Philippine National Red Cross”

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Summary

RMC No. 59-2010 circularizes Sections 5(c) and 6 of Republic Act No. 10072, which recognizes the Philippine National Red Cross, and provides its tax exemptions.

Key points

  1. Tax exemption of the Red Cross. The Philippine Red Cross is exempt from all direct and indirect taxes, including VAT, fees and other charges on all income from its operations, including the use, lease or sale of its real property and provision of services. It is likewise exempt from direct and indirect taxes, VAT, duties, fees and charges on importations and purchases for its exclusive use.
  2. Donations. Donations, legacies and gifts to the Philippine Red Cross are exempt from Donor’s Tax. They are deductible from the donor’s gross income for income tax, or from the donor-decedent’s net estate as a transfer for public use for estate tax.
  3. Membership and annual fund. Membership is open to the entire population in the Philippines regardless of citizenship. A contribution to the Annual Fund Campaign gives membership for one (1) year, and the contribution is deductible in full for taxation purposes.
  4. Enactment dates. The law was signed on April 20, 2010 and published in the Official Gazette on May 24, 2010.

Who is affected

  • Philippine National Red Cross
  • Donors and contributors to the Philippine Red Cross

Deadlines and effectivity

  • Annual Fund contribution gives membership for one (1) year
  • RA No. 10072 signed April 20, 2010, published May 24, 2010

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

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