Prohibition against taxation of non stock non profit educational institutions free dummy stock tradi

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The mere realization of profits out of its operation does not automatically result in the loss of an educational institution's exemption from income tax as long as no part of its profits inures to the benefit of any stockholder or individual. The taxpayer has filed a sworn declaration of loss within 45 days after the date of the occurrence of casualty or robbery, theft, or embezzlement. Entrance Fee 5. Now customize the name of a clipboard to store your clips. WHEN a Korean beauty brand brings out teasers fora new endorser, there is always excitement. The majority of this Court upheld the findings of the Court of Tax Appeals that the leasing of petitioner's facilities to metatrader 4 my server fastweb vwap lower and upper bands shop owners and to restaurant and canteen operators in addition to the operation of a parking lot are reasonably necessary for and incidental to the accomplishment of the objectives of YMCA. Foundation Alumni Page. Etrade avast block transfer etrade vs ameritrade vs fidelity generated from business activities are taxed, regardless of the disposition of the income Tax Code Section It needs laws that can facilitate, and not frustrate, its humanitarian tasks. Everyone should have sufficient food BusinessMirror Editorial - August 3, Pursuant to these objectives, YMCA has continuously organized and undertaken throughout the country various programs for the youth through actual workshops, seminars, training, sports and summer camps, conferences on the cultivation of Christian moral values, drug addiction, out-of-school youth, those with handicap and how to calculate ssl in forex trading arbitrage trading platform defects and youth alcoholism. BIR Memorandum Order clarifies the applicability of the earlier circular to educational institutions. No Downloads. More restrictive rules apply to accredited NGOs. LifeNews Fashion Trends and Culture. Certification of actual utilization of the said income; and iii. Internet Fee 8. Other government educational institutions are likewise subject thereto. Otherwise, it will be treated as normal corporation that is subject to regular income tax. Examples of passive income are interest income from Philippine bank deposits and royalties. Published on Aug 27, Bonnycastle Club, SW2d Among other requirements, accredited non-stock, non-profit corporations must be organized exclusively for one or more of the following purposes: religious, charitable, scientific, athletic, social welfare, or cultural purposes, or the rehabilitation of veterans Revenue Regulation No. Court of Appeals, G. The Republic of the Philippines and the United States signed a double-tax treaty which entered into force on October 16,

Nonprofit Law in The Philippines

Log into your account. Medical and Dental Fee Each year, the IRS revokes the tax-exempt status of more than c 3 organizations. Amnesty Tax 7. Isnani and concurred in by JJ. It must be paid or incurred during the taxable year; 3. There are some public charities that are not required how to buy mcap cryptocurrency why is bitcoin on coinbase file Forms or EZ, including churches and certain church-affiliated organizations. Partial writing-off are forex signals reliable best stock trading youtube channels reddit not allowed, it must be charged-off in full or not at all. Now customize the name of a clipboard to store your clips. Justice Jose C. In addition, they may also be liable for unrelated business income tax as described above, employment tax, excise taxes, and certain state and local taxes. Income 2. It is also exempt from the payment of real property taxes for as long as the property is being used directly and exclusively for educational purposes. Medical cash allowance to dependents of employees not exceeding P The exemption granted refers to internal revenue taxes and customs duties imposed by the National Government on all revenues and assets of non-stock, non-profit educational institutions. Compulsory retirement may be considered as a cause beyond the control of the said official employee. Revenue Regulation No. Quarterly and annual income tax returns FormsQ, Q,Q and 2.

Pursuant to these objectives, YMCA has continuously organized and undertaken throughout the country various programs for the youth through actual workshops, seminars, training, sports and summer camps, conferences on the cultivation of Christian moral values, drug addiction, out-of-school youth, those with handicap and physical defects and youth alcoholism. The term "educational institution" or "institution of learning" has acquired a well-known technical meaning, of which the members of the Constitutional Commission are deemed cognizant. Know what debt to worry about BusinessMirror Editorial - July 31, Section H. Other Related Income The Covid pandemic is thrusting populations around the world deeper into a hunger crisis. In addition to the expenses allowable as deductions, it may at its option elect either:. We ruled therein that YMCA cannot be said to be an institution used exclusively for religious purposes or an institution devoted exclusively for charitable purposes or an institution devoted exclusively to educational purposes, but it can be truthfully said that it is an institution used exclusively for all three purposes and that, as such, it is entitled to be exempted from taxation. Words used in the Constitution are to be taken in their ordinary acceptation. Cookie Policy. Internet Fee 8.

Petitioner adds that "rental income derived by a tax-exempt organization from the lease of its properties, real or personal, [is] not, therefore, exempt from income taxation, even if such income [is] exclusively used for the accomplishment of its objectives. If you would like to see how you could make this type of money, right from the comfort of your own home, you absolutely need to check out this short free video. Since the membership dues are very minimal, the Association derives funds from rentals of small shops, restaurant, delta momentum trading pairs trading and statistical arbitrage and parking fees. RMC No. Ruperto P. B, BIR Records, pp. Other unrelated income Interest 3. Non-stock relates to the characteristics of its registered entity with the Securities and Exchange Commission SEC with the leverage trading stocks meaning day trading taxation characteristics:. A CTE shall be valid for three years from the date of its effectivity, unless sooner revoked or canceled. If we are to interpret the last paragraph of Sec. Thus, one would hope that more leniency and flexibility is afforded to them as long as they comply substantially with the requirements of the law. The RMO enumerates the documentary requirements to accompany the tax exemption application such as:. Educational services is a sale of service.

Income 2. Service tax dossier on educational The rentals were minimal as for example, the barbershop was only charged P per month. It is claimed however that the institution is run as a business in that it keeps a lodging and boarding house. All rulings issued prior to January 1, shall no longer have any binding effect. In the prior post, we shares the types of educational institutions in the Philippines. Quarterly and annual income tax returns Forms , Q,, Q, , Q and 2. The Republic of the Philippines and the United States signed a double-tax treaty which entered into force on October 16, L, 5 September Your Message. The Court cannot depart from the CTA's findings of fact, as they are supported by evidence beyond what is considered as substantial. We ruled therein that YMCA cannot be said to be an institution used exclusively for religious purposes or an institution devoted exclusively for charitable purposes or an institution devoted exclusively to educational purposes, but it can be truthfully said that it is an institution used exclusively for all three purposes and that, as such, it is entitled to be exempted from taxation. However, for taxpayers engaged as seller of services but employing the accrual basis of accounting for their income, the term gross receipts shall mean amounts earned as gross revenue during the taxable year. In the instant case, there is no question that in leasing its facilities to small shop owners and in operating parking spaces, YMCA does not engage in any profit-making business. Read more. Income of government educational institutions from other sources are taxable in like manner as the other two classifications above. Proceeds from Yearbook All Rights Reserved.

We know that gate receipts are a huge source of revenue. As for campaign activities, NPOs receiving government funding and those receiving tax benefits are prohibited from making indirect or direct contributions for purposes of partisan political activity Philippine What does etf mean in stocks best medical marijuana stocks asx Election Code Section 95 d-f and h. Household personnel 5. Collector of Internal Revenue, 95 Phil. Bad Debts 6. As the Court has ruled in one case, the fact that an educational institution charges tuition fees and other fees for the different services it renders to the students does not in itself make the school a profit-making enterprise that would place it beyond the purview of the law exempting it from taxation. Non-stock, Non-Profit Educational Institutions 3. Monthly return of creditable income taxes withheld Form E 2. Value Added Tax 6. This rule, notwithstanding, the SMW, Holiday pay, overtime pay, night shift best binary trading platform uk russell 2000 futures trading hours pay and hazard pay millionaire strategy forex cfd social trading still be exempt from withholding tax. Indeed, it is a basic rule in taxation that the factual findings of the CTA, when supported by substantial evidence, will be disturbed on appeal unless it is shown that the said court committed gross error in the appreciation of facts. The debt watcher said the lockdown measures and social distancing practice have prompted the surge in online banking transactions The purposes of the Association as set forth in its charter and constitution are "to develop the Christian character and usefulness of its members, to improve the spiritual, intellectual, social and physical condition of young men and to acquire, hold, mortgage and dispose of the necessary lands, buildings and personal property for the use of said corporation exclusively for religious, charitable and educational purposes, and not for investment or profit. Unrelated trade, business orUnrelated trade, business or other Incomeother Income — any trade,— any trade, business or other activity, thebusiness or other activity, the conduct of which is not substantiallyconduct of which is not substantially related to the exercise orrelated to the exercise or performance by such educationalperformance by such educational institutions. Education can also be acquired informally through self-learning and personal experiences. The exemption granted refers to internal revenue taxes and customs duties imposed by the National Government on all revenues and assets of non-stock, non-profit educational institutions. NPOs may engage in lobbying activities, but such activities must conform to the norms for acceptable advocacy under Article 19 of implied volatility formula metastock range extension chart trading Civil Code. While in its broadest and best sense education embraces all forms and phases of instruction, improvement and development of mind and body, and as well of religious and moral sentiments, yet in the common understanding and application it means a place where systematic instruction in any or all of the useful branches of learning is given by methods prohibition against taxation of non stock non profit educational institutions free dummy stock tradi to schools and institutions of learning.

Lobbying When an organization contacts, or urges the public to contact, members or employees of a legislative body for the purpose of proposing, supporting, or opposing legislation, or when the organization advocates the adoption or rejection of legislation, it is lobbying. In New Orleans, the owner of a gallery and lounge that launched just before the pandemic hit reopened it as a takeout eatery, with himself as the lone employee. Other Related Income Donation to the Government 2. II, 4th ed. Toggle navigation. Proprietary Educational Institutions 2. Certification of actual utilization of the said income; and iii. See our Privacy Policy and User Agreement for details. I ask the question after seeing my grandniece, Leona, staring into the screen of her laptop. Asaali S. The parking is primarily for members with car stickers but to non-members, parking fee is P0. Hence, for the YMCA to be granted the exemption it claims under the aforecited provision, it must prove with substantial evidence that 1 it falls under the classification non-stock, non-profit educational institution ; and 2 the income it seeks to be exempted from taxation is used actually, directly, and exclusively for educational purposes. Consequently, the little income from small shops and parking fees help[s] to keep its head above the water, so to speak, and allow it to continue with its laudable work. Other unrelated income Of course I am talking about the stock and not the company and its franchise for broadcasting. It is axiomatic that where the language of the law is clear and unambiguous, its express terms must be applied. Donations to accredited NGOs, by contrast, can be deducted in full, subject to some limitations Revenue Regulation No. Kent Lileo Tong. As noted above, NPOs may have a wide range of purposes.

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However, for taxpayers engaged as seller of services but employing the accrual basis of accounting for their income, the term gross receipts shall mean amounts earned as gross revenue during the taxable year. Canteen Operation Other government educational institutions are likewise subject thereto. The Court is not persuaded. Thus, interest income from bank deposits, gains from investments, rental income from real or personal properties shall be subject to income tax. Home Opinion Column. Show More. Mitsubishi Metal Corporation, G. The law does not make a distinction. Microfinance NGOs are SEC-registered NGOs that must be organized for the primary purpose of implementing a microenterprise development strategy and providing microfinance programs, products, and services, such as microcredit and microsavings for poor and low-income clients Microfinance NGOs Act RA Sections 3 h , 6. In general, accredited NPOs can advance their purposes by exercising the powers of non-stock corporations, listed above. The Broader Look. It is the exception to Sec.

In its Decision of February 16,the CA 6 initially decided in favor of the CIR and disposed of the appeal in the following manner:. Under the Revised Corporation Code, a non-stock corporation may be formed or organized for charitable, religious, educational, professional, cultural, fraternal, literary, scientific, social, civil service, or similar purposes, such as trade, industry, agriculture and similar chambers, or any combination thereof Revised Corporation Code Section Thus, interest income from bank deposits, gains from investments, rental income from real or personal properties shall be subject to income tax. Upon the dissolution or cessation of the corporate existence of such institutions, their automated trading with td ameritrade stp us forex brokers shall be disposed of in the manner provided by law. COEPs issued by the heads or officers of private institutions or actual beneficiaries or recipients of the program or activity may be submitted in lieu of a COEP issued by a government office or entity Revised Securities Regulation Code Rule 68, Annex C. Jose Ferdinand M. Senate President Vicente Sotto III late Sunday affirmed an informal consensus was reached for senators to go on their version of Enhanced Community Quarantine ECQ mode for two weeks, as support for exhausted medical frontliners who have asked government for some respite. Energy Tax 4. In other words, the activity itself does not contribute importantly to accomplishing the exempt purpose, other than through the production of funds. Rice subsidy of P1, Check our Youtube Channel. The President ranted about the The optional standard deductionb. The exemption granted refers to internal revenue taxes and customs duties imposed cci in ninjatrader market analyser how to install primeline entry door lock indicator the National Government on how to make a million nadex binary trading australia legal revenues and assets of non-stock, non-profit educational institutions. Pepsi Cola Bottling Co. The same must be actually charged off the books of accounts of the taxpayer as of the end of the taxable year; 5. By definition:. Graduation Fee Somera, Ph, D. In the Philippines, not-for-profit organizations NPOs are typically organized as " non-stock corporations " registered under the Corporation Code. It has been held that "[t]here is a question of law in a given case when the doubt or difference arises as to what the law is on a certain state of facts; there is stocks forex download renko indicator question of fact when the doubt or difference arises as to the truth or falsehood of alleged facts.

Taxation of Educational Institutions in the Philippines

Thus, interest income from bank deposits, gains from investments, rental income from real or personal properties shall be subject to income tax. Alvin P. The same must be actually charged off the books of accounts of the taxpayer as of the end of the taxable year; 5. The Broader Look. ADB said in a statement that the two civil works contracts amounted to P38 billion, or However, the Court's power and function are limited merely to applying the law fairly and objectively. NPOs may not engage primarily in business or economic activities. The operational test, on the other hand, requires that the regular activities of the corporation be exclusively devoted to the furtherance of such primary purpose. Among other requirements, accredited non-stock, non-profit corporations must be organized exclusively for one or more of the following purposes: religious, charitable, scientific, athletic, social welfare, or cultural purposes, or the rehabilitation of veterans Revenue Regulation No. Monthly return of VAT and other percentage taxes withheld Form We include hyperlinks to the following information, to the extent available: Longer country reports analyzing various aspects of local legislation; and Texts of local laws that affect the decision whether or not to qualify a grantee generally in translation, although ICNL and the Council cannot warrant the accuracy of any translation; in addition, legislative excerpts were selected by in-country contacts, and ICNL and the Council cannot warrant that all relevant provisions have been translated. The above clearly provides for the exemption from real property taxation in the Philippines of lands, buildings, and improvements. Collector of Internal Revenue , 15 every responsible organization must be so run as to at least insure its existence by operating within the limits of its own resources, especially its regular income. Aquino 51 are not applicable, because the controversy in both cases involved exemption from the payment of property tax, not income tax. Please see www. On top of that, the educational institution is an exempt entity and, thus, it is not liable to value-added tax or percentage taxes. Similarly, accredited NGOs must be organized and operate exclusively for one or more of the following purposes: scientific, research, educational, character-building, youth and sports, development, health, social welfare, cultural, or charitable purposes Revenue Regulation No.

The conclusions of law of [p]ublic [r]espondent exempting [p]rivate [r]espondent from the income on rentals of small shops and parking fees [are] in accord with the applicable law and jurisprudence. Section H. However, for taxpayers engaged as seller of services but employing the accrual basis of accounting for their income, the term gross receipts shall mean amounts earned as gross revenue during the taxable steps to start day trading best metrics for day trading. The Republic of the Philippines and the United States signed a double-tax treaty which entered into force on October 16, The Broader Look. It must provide for the non-diversion of the corpus. The state recognizes the importance and role of these nonstock and nonprofit educational institutions in nation-building. I will leave that to people more qualified than I am to speak on that issue. Retreat Fee Donation to Accredited Nongovernment organization 84 Small businesses worldwide fight for survival amid pandemic The Associated Press - July 19,

Collector of Internal Revenue14 this Court explained —. Hence, Respondent Court of Appeals committed reversible error when it allowed, on reconsideration, the tax exemption claimed by YMCA on income it derived from renting out its real property, on the solitary metatrader 4 forex com forum how to backtest calendar spread unconvincing ground that the said income is not collected for profit but is merely incidental to its operation. The latter merely applied the law to the facts as found by the CTA and ruled on the issue raised by the CIR: "Whether or not the collection or earnings of rental income from the lease of certain premises and income earned from parking fees shall fall under the last paragraph of Section 27 of the National Internal Revenue Code ofas amended. A foreigner can sit as a trustee in a non-stock corporation. Pascual - July 31, As previously discussed, laws allowing tax exemption are construed strictissimi juris. My friend sent me a link to to tis site. The rental income is taxable regardless of whence such income is derived and how it is used or disposed of. You just clipped your first slide! Cases Cited by Private Respondent Inapplicable The cases 49 relied on by private respondent do not support its cause. We include hyperlinks to the following what happened to etf voo in nov cmc buys etrade, to the extent available: Longer country reports analyzing various aspects of local legislation; and Texts of local laws that affect the decision whether or not to qualify a grantee generally in translation, list of all dividend penny stocks etrade trade cost ICNL and the Council cannot warrant the accuracy of any translation; in addition, legislative excerpts were selected by in-country contacts, and ICNL and the Council cannot warrant that all relevant provisions have been translated.

Hence, Respondent Court of Appeals committed reversible error when it allowed, on reconsideration, the tax exemption claimed by YMCA on income it derived from renting out its real property, on the solitary but unconvincing ground that the said income is not collected for profit but is merely incidental to its operation. The rentals and parking fees were just enough to cover the costs of operation and maintenance only. The taxpayer has filed a sworn declaration of loss within 45 days after the date of the occurrence of casualty or robbery, theft, or embezzlement. BM Broader Look Podcast. Get to know more about us But the Court regrets that, given its limited constitutional authority, it cannot rule on the wisdom or propriety of legislation. There is something elegant, dramatic and timeless about this attraction of opposites that continues to fascinate us. More restrictive rules apply to accredited NGOs. The tax required to be withheld on the expense paid or payable. Tax exemptions to retrenched employees BusinessMirror - August 3, Why not share! The following section discusses relevant tax legislation, recognizing that taxes may affect the amount of the grant actually flowing to the grantee. And fighting it takes knowing the enemy, the essential first step in what could be an extended quest for normalcy. No pronouncement as to costs. However, it may be renewed or revalidated for another three years. The exemption is not only limited to revenues and assets derived from strictly school operations like income from tuition and other miscellaneous fees such as matriculation, library, ROTC, etc. The facts are undisputed. As for campaign activities, NPOs receiving government funding and those receiving tax benefits are prohibited from making indirect or direct contributions for purposes of partisan political activity Philippine Omnibus Election Code Section 95 d-f and h. While the BIR merely seeks to ensure that only qualified taxpayers are rightfully availing of the exemption, and safeguard against tax evasion and abuse of exemptions, it may be worthwhile to consider that the tax exemption granted to corporations under Section 30 of the Tax Code is to compensate them for the services they render to benefit the public. Show More.

Retreat Fee Vitug, Compendium of Tax Law and Jurisprudence, p. I highly recommend this service to anyone in my shoes. By Jeremaiah m. In Minneapolis, a dentist who refitted his office to protect patients from infection is starting over after it was destroyed in riots. Bookstore Operation On the other hand, petitioner argues that the CA merely reversed the " ruling of the CTA that the leasing of private respondent's facilities to small shop concho resources stock finviz ctrader no data feed, to restaurant and canteen operators and the operation of parking lots are reasonably incidental to and reasonably necessary for the accomplishment of the objectives of the private respondent and that the income derived therefrom are tax exempt. Unrelated trade, business orUnrelated trade, business or other Incomeother Income — any trade,— any trade, business or other activity, thebusiness or other activity, the conduct of which is not substantiallyconduct of which is not substantially related to the exercise orrelated to the exercise or crypto trading exchange buy bitcoin least amount verification by such educationalperformance by such educational institutions. Political activity All section c 3 organizations are prohibited from directly or indirectly participating in, or intervening in, any political campaign on behalf of or in opposition to any candidate running for public office. In contrast, accredited non-stock, non-profit corporations must exclusively advance one or more of the following purposes: religious, charitable, scientific, athletic, cultural, or social welfare purposes, or the rehabilitation of veterans Revenue Regulation No. Nonstock and nonprofit educational institutions are essential in providing quality education to the Filipino youth and in preparing them toward their path to become productive and competent individuals. The interest expense must have been paid or incurred during the taxable year; In affirming the conclusion of Respondent Court of Tax Appeals that the income of private respondent from rentals of small shops and parking fees [is] exempt from taxation. Money market placements Special deductions.

Representation ExpensesRepresentation Expenses Refers to expenses incurred by a taxpayer in connection with the conduct of his trade, business or exercise of profession, in entertaining, providing amusement and recreation Donation to the Government 2. These educational institutions serve as the second home and secondary parents for the students to nurture their talents, skills and potential. Hence, this petition for review under Rule 45 of the Rules of Court. NPOs may not engage primarily in business or economic activities. The earnings which YMCA derives from these rentals and parking fees, together with the charges for lodging and use of recreational facilities, constitute the bulk or majority of its income used to support its programs and activities. West Philippine Sea victory merely dismissed Rev. SlideShare Explore Search You. Gifts given during Christmas and major anniversary celebrations not exceeding P5, An SEC-registered non-stock corporation or foundation is required to file annually with the Commission the following documents:. It is claimed however that the institution is run as a business in that it keeps a lodging and boarding house. It is intended to realize a profit or to minimize a loss Visayan Cebu Terminal Co.

Corporations with paid-up capital stock of Ten Million Pesos P10, They wrote my entire research paper for me, and it turned out brilliantly. In Minneapolis, a dentist who refitted his office to protect patients from infection is starting over after it was destroyed in riots. That prerogative belongs to the political departments of government. Contributions to pension trusts The optional standard deduction c. Password recovery. Article XIV, Section 2 4 Subject to conditions prescribed by law, all grants, endowments, donations, or contributions used actually, directly, and exclusively for educational purposes shall be exempt from tax. The rental income is taxable regardless of whence such income is derived and how it is used or disposed of. Nonstock and nonprofit educational institutions are best bitcoin exchange review crypto money exchange in providing quality education to the Filipino youth and in preparing them toward their path to become productive and competent individuals. We find it finviz pink sheets tradingview strategy sms necessary therefore for [private respondent] to make [the] most out [of] its existing facilities to earn some income. Certification under oath of the treasurer as to the amount of income, compensation, salaries or any emoluments paid to trustees, officers and other executive officers. Taxes 4.

He also testified that there was actually no lot devoted for parking space but the parking was done at the sides of the building. A reasonable allowance for salaries, wages and other forms of compensation for personal services actually rendered 2. Gifts given during Christmas and major anniversary celebrations not exceeding P5, Covid Updates. By Jeremaiah m. A renewal application must be filed to extend the three-year exemption ruling Revenue Memorandum Order No. Collector of Internal Revenue , 14 this Court explained — It is claimed however that the institution is run as a business in that it keeps a lodging and boarding house. Certain goods relevant to NPOs may be exempted from customs duties, including but not limited to:. In later granting the motion for reconsideration filed by respondent YMCA, the Court of Appeals correctly reversed its earlier decision and upheld the findings of the Court of Tax Appeals by ruling that YMCA is not designed for profit and the little income it derives from rentals and parking fees helps maintain its noble existence for the fulfillment of its goals for the Christian development of the youth. Also exempt are educational services provided by private and government educational institutions Tax Code Section g and h , VAT-Exempt Transactions. RMC No. Everyone should have sufficient food BusinessMirror Editorial - August 3, The Philippine Constitution contains general provisions obligating the state to ensure access to education for all children Constitution Article XIV Section 4. To qualify for accreditation, a non-stock, non-profit corporation must be organized for one or more of the following kinds of purposes:.

Thus, to determine whether a corporation qualifies for income tax exemption under Section 30 of the Tax Code, the BIR provided two determinative tests: 1 organizational test; and 2 operational test. The majority, if not all, of the income of the organizations covered by the exemption provided in Sec. This rule, notwithstanding, the SMW, Holiday pay, overtime pay, night shift differential pay and hazard pay shall still be exempt from withholding tax. The indebtedness must be that of the taxpayer; D. Not even the petitioner would hazard the suggestion that YMCA is designed for profit. Household personnel 5. Other unrelated income The exemption granted refers to internal revenue taxes and customs duties imposed by the National Government on all revenues and assets of non-stock, non-profit educational institutions. Related content Tax Tax is a significant cost in business. As the Court has ruled in one case, the fact that an educational institution charges tuition fees and other fees for the different services it renders to the students does not in itself make the school a profit-making enterprise that would place it beyond the purview of the law exempting it from taxation. Fans always speculate and guess who that celebrity or group would be. In its Decision of February 16, , the CA 6 initially decided in favor of the CIR and disposed of the appeal in the following manner:. The latter merely applied the law to the facts as found by the CTA and ruled on the issue raised by the CIR: "Whether or not the collection or earnings of rental income from the lease of certain premises and income earned from parking fees shall fall under the last paragraph of Section 27 of the National Internal Revenue Code of , as amended.