An Act Exempting the Ramon Magsaysay Award Foundation from the Payment of Taxes and Fees, Whether National or Local, as Well as Constructions, Gifts and Donations Given Thereto
Year:
1963
Category:
Other
Date Approved:
June 22, 1963
Summary
Plain-language AI-assisted summary — not the official text. As of July 1, 2026. Read the full text below or on the official source.
This act exempts the Ramon Magsaysay Award Foundation from the payment of all national and local taxes, as well as fees imposed by government entities. Additionally, it allows all gifts, contributions, and donations to the Foundation to be considered allowable deductions for income tax purposes.Full Text
REPUBLIC ACT No. 3676
An Act Exempting the Ramon Magsaysay Award Foundation from the Payment of Taxes and Fees, Whether National or Local, as Well as Constructions, Gifts and Donations Given Thereto
Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:
Section 1. The provisions of existing laws or ordinances to the contrary notwithstanding, the Ramon Magsaysay Award Foundation shall be exempt from the payment of all taxes, whether national or local, and from such fees and other charges as are or may be imposed by the Central Bank or other government entities.
Section 2. All gifts, contributions and donations to the Foundation shall be considered allowable deductions for purposes of determining the income tax of the donor, and shall be exempt from the payment of the taxes imposed under Title III of the National Internal Revenue Code.
Section 3. This Act shall take effect upon its approval.
Approved: June 22, 1963.
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Republic Acts are laws passed by the Congress of the Philippines. This content is sourced from LawPhil (lawphil.net) for reference purposes. For official and authoritative texts, please refer to the Official Gazette.