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July 5, 2010BIR RULING [DA-(DT-015) 115-10]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)768-09City Legal OfficeSta. Elena, Marikina CityAttention: Atty. Nancy Villanueva TeylanCity AttorneyGentlemen :This refers to your letter dated March 4, 2010 requesting for a ruling that the donation of a parcel of land by Medina Food Industries, Inc. (MFII) in favor of the City Government of Marikina is exempt from donor's tax and documentary stamp tax. It is represented that MFII (TIN 001-901-577-000) is a corporation duly organized and existing under Philippine laws. It is the registered owner of a certain parcel of land covered by Transfer Certificate of Title (TCT) No. 416423 located at Brgy. Concepcion I, Marikina City with an area of 435 sq.m. The City Government of Marikina (TIN 000-480-288-000), on the other hand, is a local government unit duly organized and existing under the laws of the Philippines. MFII offered to donate said parcel of land to the City Government of Marikina for the construction of a new road...