May 19, 2020
REVENUE MEMORANDUM ORDER NO. 015-20
| TO | : | All Revenue Officials and Employees Concerned |
| SUBJECT | : | Updated Procedures in the Acceptance of Property Donations to the Bureau of Internal Revenue Pursuant to Revenue Delegation Authority Order (RDAO) No. 4-2010 as amended by RDAO No. 4-2019 dated July 31, 2019 |
I. OBJECTIVE:
This Order is issued to amend some provisions of Revenue Memorandum Order No. 28-99 dated March 16, 1999, Re: Prescribing the Procedures in the Acceptance of Property Donations to the Bureau of Internal Revenue pursuant to the newly signed RDAO dated July 31, 2019.
II. DEFINITION OF TERMS:
A. Donated Property — refers to a tangible or intangible property of significant value or use, transferred for free to the BIR by any person, whether natural or juridical, resident or non-resident.
B. Tangible Property — refers to a property that has n physical substance and can be touched, such as land, building, office machine, computer hardware, vehicle, etc.
C. Intangible Property — refers to a property that has n value but lacks physical substance such as...
