The educational system is a vital component in the economic development of any country. In the Philippines, no less than our constitution recognizes this role of the education sector. Consistent with this policy, the State does provide special tax treatment to certain class of educational institutions.
The term “unrelated trade, business or other activity” means any trade, business or other activity, the conduct of which is not substantially related to the exercise or performance by such educational institution of its primary purpose or function.
All revenues and assets of non-stock, non-profit educational institution used actually, directly and exclusively for educational purposes shall be exempt from taxes and duties, pursuant to Paragraph 3, Section 4, Article XIV of the 1987 Constitution, and as reiterated in Section 30 of the Tax Code.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Subway celebrates 26th anniversary with e-learning program | BMPlusInternet connectivity has been an issue that has plagued the educational system over the past two years. A pressing problem in the far-flung areas in the country and even in some parts of Metro Manila is the issue of intermittent or no internet connectivity at all. Every student deserves the…
Source: BusinessMirror - 🏆 19. / 59 Read more »
Shangri-La Boracay: A Private Sanctuary | Ardee P. de los AngelesMore than the party atmosphere, visitors also come to Boracay to put their feet up, slow down, relax and enjoy great food with family and friends. The island is slowly becoming a family and a sustainable tourist destination. There is always the option to party and explore the vibrant nightlife…
Source: BusinessMirror - 🏆 19. / 59 Read more »
CIW warns public vs fake Facebook accountThe Correctional Institution for Women in Mandaluyong City has warned the public against another fake Facebook account which posts misleading information.
Source: manilabulletin - 🏆 25. / 51 Read more »
Duterte most popular post-EDSA president - Publicus'Our numbers indicate that President Rodrigo Duterte will leave office as the most popular president of the post-EDSA 1 era.' PUBLiCUS Executive Director Atty. Aureli Sinsuat said. read: Filipinos today are also the dvmbest. Popular for ruining this country. Period.
Source: TheManilaTimes - 🏆 2. / 92 Read more »
MVP on resuming exploration works on WPS: Who will protect us?“Even with the best of intentions on our part, because we want to continue with our work program precisely to determine if there’s gas in WPS. But if outside forces will stop us, what should we do? Who will protect us? We are a private sector company,” Pangilinan told reporters in a chance interview.
Source: gmanews - 🏆 11. / 68 Read more »