Pursuant to Section 8
of Revenue Regulations 13-98, taxpayers claiming donations as deduction from
gross income in computing the income tax, must present to the BIR the
Certificate of Donation indicating the actual receipt and date of donation and
the amount of cash, or acquisition cost if in property
These information
shall be provided in the Certificate of Donation (BIR Form 2322). The
Form consists of two parts:
1. the donee
certification on the receipt of the donation and indicating the date and amount
of cash or description of the property donated, signed by an authorized
representative.
2. the donor statement
on the description, acquisition cost and net book value of the property donated
as reflected in its financial statements, signed by an authorized
representative. Copy of the sales document will also be required to
support the acquisition cost.
Revenue Memorandum
Circular No. 86-2014, December 5, 2014
Tax Alerts
Punongbayan and Araullo
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