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Lumbera Tax TABLE

1. Various types of institutions like charitable/religious institutions, non-profit hospitals and educational institutions are exempt from income tax if their activities are aligned with their purpose and the assets are used for approved purposes. 2. These institutions are also exempt from real property tax if the property is actually and directly used for approved exempt activities. 3. Donations to these exempt institutions are not taxed as income for the donor and are deductible from the donor's taxable income, subject to certain limits. Gifts to these institutions are also exempt from estate and donor's taxes.

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John Matthew Cruel
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26 views2 pages

Lumbera Tax TABLE

1. Various types of institutions like charitable/religious institutions, non-profit hospitals and educational institutions are exempt from income tax if their activities are aligned with their purpose and the assets are used for approved purposes. 2. These institutions are also exempt from real property tax if the property is actually and directly used for approved exempt activities. 3. Donations to these exempt institutions are not taxed as income for the donor and are deductible from the donor's taxable income, subject to certain limits. Gifts to these institutions are also exempt from estate and donor's taxes.

Uploaded by

John Matthew Cruel
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Charitable Religious Charitable Non-Stock Proprietary Proprietary GEI Govt Agency

Institution Institutions Hospital Non-Profit EducationaI Hospital


Charitable Educational Institution
Hospital Institution
Basis IT: Sec 30, NIRC Sec 4(3) Art IT: Sec 27(B), NIRC GEI IT: Sec 32(B)
XIV, IT: Sec. (7)(b), NIRC
RPT: Sec 28 (3) NIRC and Art. VI Sec. Constitution RPT: Sec 234 (B), LGC 30 NIRC
28 1987 Constitution RPT: Sec
234 (A)
LGC

Real EXEMPT: provided ADE used for EXEMPT: provided ADE EXEMPT: if owned by
Property charitable, religious, educational used for charitable, and the beneficial use
Tax purpose educational purpose pertains to the
government
NOT EXEMPT: if not ADE used for NOT EXEMPT: if not ADE
charitable, religious, educational used for charitable, NOT EXEMPT: IF
purpose educational purpose beneficial use pertains to
non-exempt entity for a
consideration
EXEMPT: if income as such EXEMPT: Subject to 10% or 30% EXEMPT: EXEMPT:
provided NIT. If income If income
NOT EXEMPT: if income from Income ADE for “as such” from the
properties or from activity educational 10% - if income from exercise of
conducted for profit regardless of purposes URTA <= 50% of total NOT government
disposition shall be subject to tax (CIR vs ST. Paul income EXEMPT: function
College Makati; If income
CIR vs De La 30% - if income from from NOT
Salle URTA > 50% of total property EXEMPT:
University) income or from If
activity proprietary
NOT EXEMPT: if conducted function
not ADE used for profit subject to
for educational 30% NIT
purposes
GOCCs are
generally
Income taxable
Tax except:
GSIS, SSS
PHIC, and
Local Water
Districts
Gifts and Donations received by these institutions are NOT SUBJECT TO IT; gifts, bequests,, and devises are
items of exclusions from gross income
Gifts/Donations are deductible from GI of donor;

Ind CIE (purely compensation income earner, no


deduction)

Ind SEP/SEI/MEI (Business income earner up to 10% of


taxable income prior to this deduction)

Corp: up to 10% of taxable income prior to this


deduction NOT DEDUCTIBLE FROM DEDUCTIBLE in full
GROSS INCOME OF provided for priority
DONORS projects, otherwise we
apply the 10%/5%
restriction
Estate EXEMPT: Transfer of property mortis causa or
Tax/ intervivos, provided not more than 30% of the gift is
Donors used for administration purposes
Tax

Subject to ET/DT EXEMPT: No


Qualification

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