Tax Resources PH icon

TAX RESOURCES PH

Tax resources for Filipinos

RMC No. 87-2020: Circularizes Republic Act No. 11335, entitled “An Act Converting the Guimaras State College in the Province of Guimaras, into a State University, and Appropriating Funds Therefor”

Files
Download this file

Summary

RMC No. 87-2020 circularizes RA No. 11335, which converts the Guimaras State College into the Guimaras State University and appropriates funds for it.

CollapseExpand

Key points

  1. Customs duties. The University’s importation of economic, technical and cultural books and publications for economic, technical-vocational, scientific, philosophical, historical or cultural purposes is exempt from customs duties under RA No. 10863 (Customs Modernization and Tariff Act). This requires certification by the Commission on Higher Education.
  2. Donor’s tax and donor’s deduction. Grants, bequests, endowments, donations and contributions to the University that it uses actually, exclusively and directly are exempt from Donor’s Tax. The donor may treat them as an allowable deduction from gross income under the NIRC of 1997, as amended.

Who is affected

  • Guimaras State University
  • Donors to the University

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.