Republic Act No. 3676




REPUBLIC ACT No. 3676 An Act Exempting the Ramon Magsaysay Award Foundation from the Payment of Taxes and Fees, Whether National or Local, as Well as Constructions, Gifts and Donations Given Thereto Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled: Section 1. The provisions of existing laws or ordinances to the contrary notwithstanding, the Ramon Magsaysay Award Foundation shall be exempt from the payment of all taxes, whether national or local, and from such fees and other charges as are or may be imposed by the Central Bank or other government entities.1âшphi1 Section 2. All gifts, contributions and donations to the Foundation shall be considered allowable deductions for purposes of determining the income tax of the donor, and shall be exempt from the payment of the taxes imposed under Title III of the National Internal Revenue Code. Section 3. This Act shall take effect upon its approval. Approved: June 22, 1963. The Lawphil Project - Arellano Law Foundation