An Act to Exempt the International Rice Research Institute or its Successors from the Payment of Gift, Franchise, Specific, Percentage, Real Property Exchange, Import, Export and All Other Taxes, and the Members of its Scientific and Technical Staff from the Payment of Income Tax
Year:
1960
Category:
Other
Date Approved:
June 18, 1960
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 International Rice Research Institute and its successors from various taxes, including gift, franchise, and income taxes for its scientific and technical staff. It aims to facilitate the operations of the Institute by alleviating its tax burdens.Full Text
REPUBLIC ACT No. 2707
An Act to Exempt the International Rice Research Institute or its Successors from the Payment of Gift, Franchise, Specific, Percentage, Real Property Exchange, Import, Export and All Other Taxes, and the Members of its Scientific and Technical Staff from the Payment of Income Tax
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 International Rice Research Institute, or its successors, shall be exempt from the payment of gift, franchise, specific, percentage, real property, exchange, import, export, and all other taxes provided under existing laws or ordinances. This exemption shall extend to goods imported and owned by the International Rice Research Institute to be leased or used by members of its staff.
Section 2. All gifts, bequests, donations and contributions which may be received by the International Rice Research Institute from any source whatsoever, or which may be granted by the Institute to any individual or non-profit organization for educational or scientific purposes, shall be exempt from the payment of the taxes imposed under Title III of the National Internal Revenue Code. All gifts, contributions and donations to the Institute shall be considered allowable deductions for purposes of determining the income tax of the donor.
Section 3. Non-Filipino citizens serving on the technical and scientific staff of the International Rice Research Institute shall be exempt from the payment of income tax on salaries and stipends in dollars received solely and by reason of service rendered to the Institute.
Section 4. This Act shall take effect upon its approval.
Approved: June 18, 1960.
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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.