July 5, 2010
BIR RULING [DA-(DT-014) 114-10]
Sec. 101 (A) (2); 196;
BIR Ruling No. 064-97;
BIR Ruling No. 003-01;
BIR Ruling No. DA-028-98;
BIR Ruling No. DA(DT-070)768-09
City Legal Office
Sta. Elena, Marikina City
Attention: Atty. Nancy Villanueva Teylan
City Attorney
Gentlemen :
This refers to your letter dated March 4, 2010 requesting for a ruling that the donation made by Francisco L. Homo of a portion of its parcel of land in favor of the City Government of Marikina is exempt from donor's tax and documentary stamp tax.
Documents submitted show that Francisco L. Homo (TIN 285-414-283-000) is the registered owner of a parcel of land located in Sto. Niño, Marikina City with an area of 250 sq.m. as evidenced by Transfer Certificate of Title (TCT) No. N-77676 issued by the Registry of Deeds for Marikina Branch. The City Government of Marikina (TIN 000-480-288-000),on the other hand, is a local government unit created under Philippine laws. Francisco L. Homo offered to donate a portion of said parcel of land to the City Government of Marikina to accelerate and enhance the development and to promote public...
