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RMC No. 90-2020

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REVENUE MEMORANDUM CIRCULAR NO. 90-2020 issued on August 27, 2020 circularizes the following Republic Acts:
a. Republic Act (RA) No. 11259, entitled “An Act Dividing the Province of Palawan into Three (3) Provinces, namely: Palawan del Norte, Palawan Oriental and Palawan del Sur”;
b. RA No. 11284, entitled “An Act Converting the Northern Bukidnon Community College in the Municipality of Manolo Fortich, Province of Bukidnon, into a State College to be Known as the Northern Bukidnon State College, and Appropriating Funds Therefor”; and
c. RA No. 11283, entitled “An Act Converting the Camarines Sur Polytechnic Colleges in the Municipality of Nabua, Province of Camarines Sur into a State University to be Known as the Polytechnic State University of Bicol, and Appropriating Funds Therefor”.

Section 19 of RA Nos.11284 and 11283 provides that the importation of economic, technical and cultural books and publications, made by the Northern Bukidnon State College and Polytechnic State University of Bicol, respectively, which are for economic, technical-vocational, scientific, philosophical, historical or cultural purposes, upon certification by the Commission on Higher Education, shall be exempt from customs duties in accordance with RA No. 10863 (Customs Modernization and Tariff Act.

All grants, bequests, endowments, donations and contributions made to the College/University and used actually, directly and exclusively by it, shall be exempt from the Donor’s Tax and the same shall be considered as allowable deduction from the gross income in the computation of the Income Tax of the donor, in accordance with the provisions of the National Internal Revenue Code of 1997, as amended.

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