The COVID-19 Pandemic undoubtedly affects every aspect of our daily lives – family, work, and especially the students’ means of learning. With the school opening suspended last June, there has been a significant delay in their studies. Finally, this October, classes reopened but in a different setting and mode – the classes went virtual or online. The online classes, I might say, is not for everyone especially to those who cannot afford to purchase the necessary gadgets for this platform. Another thing is not every school is fully equipped with the proper learning materials and technology. Good thing that there are kindhearted individuals and institutions who are donating for the schools. But how can the government repay for this generosity?
BIR issued Revenue Regulations (RR) No. 26-2020 to implement Section 4 (zzz) of Republic Act (RA) No. 11494 or the Bayanihan to Recover as One Act. Under the RR, all donations of learning and teaching equipment in public schools during the effectivity of the RA (September 15,2020 to December 19, 2020), shall be exempted from donor’s taxes and duties and taxes, if imported.
Coverage
All donations made to public schools, State Universities and Colleges (SUCs), vocational institutions under TESDA, such as personal computers, laptops, tablets, mobile phone, printer for use in teaching and learning in public schools.
Tax Incentives
The amount of donation could be claimed as deduction from gross income subject to limit as prescribed in the Tax Code, as amended. Provided further that the following conditions are met:
This article was originally published by G. Pagaspas Partners & Co., CPAs.
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