July 5, 2010
BIR RULING [DA-(DT-016) 116-10]
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 1, 2010 requesting for a ruling that the donation of several parcels of land by Consolacion Village, Inc. (CVI) in favor of the City Government of Marikina is exempt from donor's tax and documentary stamp tax.
It is represented that CVI (TIN 000-527-562-000) is a domestic corporation organized under Philippine laws. It is the registered owner of several road lots and open spaces covered by Transfer Certificates of Title (TCTs) Nos. 211435, 228380, 211499, 228342 and 228381 all located at Brgy. Parang, Marikina City. 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. CVI offered to donate said parcels of land to the City Government of Marikina and has authorized its President Mr. Antonio Santos to sign,...
