Amending Presidential Decree No. 1349 DatedApril 13, 1978.
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Amending Presidential Decree No. 1349 DatedApril 13, 1978.
Presidential Decree No. 1388
May 26, 1978
Case Overview and Summary
Tax Exemptions for Donations to the Museum- Donations or contributions made to the Museum are exempt from income and gift taxes. (Section 1)
- Such donations or contributions are fully deductible from the gross income of the donor or contributor. (Section 1)
- The deduction for donations or contributions to the Museum is treated as a separate item and is not included in computing the maximum amount deductible under Section 30, paragraph (h) of the National Internal Revenue Code, as amended. (Section 1)
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Executive Issuances
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tax exemption
donations
contributions
museum
income tax
gift tax
tax deduction
gross income
National Internal Revenue Code
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Amending Presidential Decree No. 1349 DatedApril 13, 1978.
Presidential Decree No. 1388
•May 26, 1978
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 1388
AMENDING PRESIDENTIAL DECREE NO. 1349 DATED APRIL 13, 1978.
Section 1. Section 3 of Presidential Decree No. 1349 is hereby amended to read as follows:
"Sec. 3. Any provision of law, executive order, rules or regulations to the contrary notwithstanding, all donations or contributions made by any person or entity to the Museum, including those received prior to its formal constitution into a body corporate, shall be exempt from income and gift taxes. Such donations or contributions shall be deductible in full from the gross income of the person or entity making the donation or contribution and shall be treated as a separate item of tax deduction in the sense that the same shall not be included for purpose of computing the maximum amount deductible under Section 30, paragraph (h) of the National Internal Revenue Code, as amended."
Section 2. This Decree shall take effect immediately.
Done in the City of Manila, this 26th day of May, in the year of Our Lord, nineteen hundred...
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