NEDA dangling tax-free perks for 6 development projects | Inquirer Business
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NEDA dangling tax-free perks for 6 development projects

By: - Reporter / @bendeveraINQ
/ 03:06 PM April 23, 2020

MANILA, Philippines – The state planning agency National Economic and Development Authority (Neda) is dangling tax incentives to private individuals and firms that will donate money to six programs under this year’s National Priority Plan (NPP).

Among the priority programs, projects and activities included by Neda in its 2020 NPP were the Department of Science and Technology (DOST)‐Food and Nutrition Research Institute’s (FNRI) Malnutrition Reduction Program; the DOST-Science and Technology Information Institute’s (STII) Science and Technology Academic and Research Based Openly Operated Kiosk (Starbooks), and DOSTv: Science for The People; and the DOST-Science Education Institute’s (SEI) Access to Resources and Innovations in Science Education (Arise): 21st Century Model Classroom.

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Also included in the 2020 NPP were the Department of Agriculture’s (DA) Philippine Rural Development Project, as well as the Department of Education’s (DepEd) Adopt-A-School Program.

The 2020 NPP contained a shorter list compared to the 2019 NPP, which had eight priorities—four from the DOST, three from the DA, and one from the DepEd.

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The government enjoined private sector donations for these priority programs, projects and activities so it can allocate public resources for other developmental activities.

Under the Tax Code, any program, project and activity under the annual NPP entitle its individual or corporate donors to full deduction of the said donation from the donor’s taxable income during the year when the donations were made.

Donors can claim their tax deductions when they file income tax returns during the following year.

When requested, Neda issues a certification of inclusion in the NPP so that donors can avail of this tax perk.

The annual NPP lists the government’s priority initiatives in the sectors of economic development, education, health, human settlements, science and culture, as well as youth and sports development.

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TAGS: Adopt-A-School Program, Department of Education, NEDA
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