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contributions / donations by corporation

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1 contributions / donations by corporation on Sun Mar 27, 2011 1:42 pm

jerika


Arresto Menor
good day po

i would just like to ask about contribution/donation of corporation. it is said that it should not exceed 5% of their taxable income before contributions. what if they have net loss? are they still allowed to deduct? is the 5% rule an absolute amount? thanks

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2 Re: contributions / donations by corporation on Sun Mar 27, 2011 4:41 pm

attyLLL


moderator
if an actual donation was made, then i believe it can be deducted, but it can be considered an inofficious donation for being contrary to law.


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3 Re: contributions / donations by corporation on Sun Mar 27, 2011 7:20 pm

jerika


Arresto Menor
thank you po.

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