GMA, 'Dato' Arroyo recommend tax relief during calamity | Fincance ...

FORMER President Gloria Macapagal-Arroyo and his son Camarines Sur Rep. Diosdado ?Dato? Arroyo have recommended the granting of tax relief during times of calamity to ensure the steady and unimpeded flow of donations for victims. Mrs. Macapagal-Arroyo, now a Pampanga representative, and Arroyo filed House bill (HB) no. 5104 to spare donors during period of calamity of paying tax. They said that the display of heroism and gallantry by Filipinos during past calamities also brought into the limelight a few bureaucratic glitches that impeded the flow of donations like, for instance, the donor?s tax. Macapagal-Arroyo said multinational corporations and some rich individuals wanted to give huge sums to organizations to help aid the calamity victims, but were faced with a hefty sum for donor?s tax. ?While donors can avail of tax exemption, the stiff accreditation requirements, however, became a deterrent to their donation or aid,? said Macapagal-Arroyo under the law, Arroyo said the donors also have to submit paperwork to the Bureau of Internal Revenue (BIR) for audit procedures and compounding the problem is the fact that not all organizations with relief operations are accredited charitable organizations. ?The objective of the bill is to address all these concerns by allowing tax exemption of donations as long as a state of calamity is declared by the proper Sanggunian and regardless of the nature of business of the donee organization so as not to hamper funds from coming in,? said Arroyo. Arroyo said the measure is similar to the response of the United States Congress in granting similar tax treatments in the wake of Hurricane Katrina. the bill provides that the real property tax in the affected area shall not be assessed and collected for two fiscal years, starting from the date of the declaration of a state of calamity by the proper local Sanggunian. It further provides any donation in the name of any organization that declares that the funds donated shall be in favor of the calamity victims shall be exempt from donor?s tax. under the bill, the exemption shall automatically apply and the BIR shall not require any accreditation requirements. provided, however, that no more than 10 percent of the said gift shall be used by the done organization for administration purposes.

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GMA, ?Dato? Arroyo recommend tax relief during calamity

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