Jul 132014
WHEN news about fake nongovernment organizations (NGOs) related to the pork barrel scam hit the headlines, other non-stock, nonprofit organizations (NSNPs) attracted the probing eyes of the Bureau of Internal Revenue (BIR).
As a result, the BIR issued on June 6, 2014 Revenue Memorandum Circular (RMC) No. 51-2014, which aimed to tighten the interpretation and treatment of tax-exempt NSNPs under Section 30 of the Tax Code.