BIR Ruling No. 467-2021

IREPUBLIC OFTHEPHILIPPINES I DEPARTMENT OF FINANCE BUREAU OFINTERNALREVENUE Quezon City Sees.24(C);98; 175 ofthe Tax Code of 1997, as amended; RRNo. 13-2004 BIR Ruling No. OT-0653-2020 0T' �; K - ? u y ii' lihL. LEAGOGO LAW OFFICE Unit 1908,Tower2 High StreetCorporate Plaza 26^ Streetcomer 1 Avenue,^GC,Taguig City AttUtion: Attys.Jose Lis C.Leagogo I McDonald Abalos and Pola Lia Cellna L, Lamarca Gentlemen: | schhaangnegoSfItm/st^eSe kofitnhe'MgacniolZi oPo^lto icoVnulb^l^c^T^M^TM)i^emb"e^'hVsh'^^^^^^^^ another trustee is not subject to|capital gains tax(COT),donor's tax and documentary stamp tax Background: | thp ^, 'y registered in Hong Kong and is authorized to do business in Under the Club's Artiiles of Incorporation, only natural persons shall be admitted ns proprietary members,as reflected in Article 7(c)ofits Articles ofIncorporation,to wit (c) Only natural berso^ns shall be admitted as proprietary members. No certificate" "inre than one proprietary membership N/i u toItbseelafimjbieearmysbboeenrsowaannrdeedeanbdjymoiaytmcteoerndptoaorsfattpehreeonpftraicitieylt.iatrAiyess comofeumtlhbdeebCrelsgulbtehiasenelidPmriiontnerAdiretotinnclrlvve 7(c) above, admission