Tax Exemption for Ramon Magsaysay Award Foundation

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Republic Act No. 3676: Tax Exemption for Ramon Magsaysay Award Foundation

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Title Supreme Court: Tax Exemption for Ramon Magsaysay Award Foundation

Law: Republic Act No. 3676

Decision Date: Jun 22, 1963

Republic Act No. 3676 grants the Ramon Magsaysay Award Foundation tax exemption and allows donors to deduct their contributions from their income tax.

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Treatment of Gifts, Contributions, and Donations

All gifts, contributions, and donations given to the Foundation are considered allowable deductions for income tax purposes for the donors.
Such donations are exempt from taxes imposed under Title III of the National Internal Revenue Code.

Effectivity

The law takes effect immediately upon approval on June 22, 1963.

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