THE Bureau of Internal Revenue (BIR) will not tax donations made by private companies to the Presidential Commission for the Urban Poor (PCUP), it said on Wednesday.
The BIR and the PCUP signed a memorandum of agreement for the tax exemptions on Sept. 10, it said.
Under the agreement, the bureau will also provide and orient PCUP focal persons of the policies and guidelines for the exemption granted to donors.
It will also designate a focal person who will coordinate with the PCUP for the implementation and monitoring of the agreement, BIR said.
In September, the BIR collected P161 billion in tax revenues, 12.7% below its P184.46-billion collection target for the month. This year, the BIR is expected to generate P3.05 trillion in revenues. — Beatriz Marie D. Cruz