8/13/2019 RA 9500 RA 9521
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RA 9500
SEC. 25. Tax Exempt ions . - The provisions of any general or
special law to thecontrary notwithstanding:
(a) All revenues and assets of the University of the Philippines
used foreducational purposes or in support thereof shall be exempt
from all taxes andduties;
(b) Gifts and donations of real and personal properties of all
kinds shall beexempt from the donor's tax and the same shall be
considered as allowabledeductions from the gross income of the
donor, in accordance with theprovisions of the National Internal
Revenue Code of 1997, asamended: Provided , That the allowable
deductions shall be equivalent to 150percent of the value of such
donation. Valuation of assistance other thanmoney shall be based on
the acquisition cost of the property. Such valuationshall take into
consideration the depreciated value of property in case
saidproperty has been used;
(c) Importation of economic, technical, vocational, scientific,
philosophical,historical and cultural books, supplies and materials
duly certified by theBoard, including scientific and educational
computer and software equipment,shall be exempt from customs
duties;
(d) The University shall only pay 0% value-added tax for all
transactionssubject to this tax; and
(e) All academic awards shall be exempt from taxes.
RA 9521
Section 3. The Nat ional Boo k Developmen t Trus t Fund . - A
National BookDevelopment Trust Fund, hereafter referred to as the
Fund, is hereby establishedexclusively for the support and
promotion of Filipino authorship especially in scienceand
technology and in subject areas wherein locally authored books are
either fewor nonexistent. The Fund shall be subject to the
following;
(a) The contribution to the Fund shall be sourced from the
following:
(1) The amount of Fifty million pesos (P50,000,000.00) shall be
allotedin the annual General Appropriation Act (GAA) for the next
five (5)years starting from the enactment of this law;
(2) The amount of Fifty million pesos (P50,000,000.00) shall be
takenfrom the Philippine Amusement and Gaming Corporation
(PAGCOR)
