House OKs special program in the creative arts act
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House OKs special program in the creative arts act
RG Cruz,
ABS-CBN News
Published May 08, 2023 07:39 PM PHT

MANILA — Voting 259-0, the House of Representatives has approved House Bill 7540 or the "Special Program in the Creative Arts Act" on third and final reading.
MANILA — Voting 259-0, the House of Representatives has approved House Bill 7540 or the "Special Program in the Creative Arts Act" on third and final reading.
According to the fact sheet prepared by the Committee on Basic Education and Culture, the bill creates a Special Program in the Creative Arts (SPCA) Council under the supervision of the Department of Education (DepEd).
According to the fact sheet prepared by the Committee on Basic Education and Culture, the bill creates a Special Program in the Creative Arts (SPCA) Council under the supervision of the Department of Education (DepEd).
It also encourages the DepEd and schools with SPCA to enter into agreements with the private sector for the training and development of the skills and talents of SPCA learners.
It also encourages the DepEd and schools with SPCA to enter into agreements with the private sector for the training and development of the skills and talents of SPCA learners.
Likewise it grants tax exemptions from customs duties for the importation of equipment relating to creative industry, books, art related supplies, musical instruments, materials and goods, including those donated to the SPCA upon certification by the DepEd.
Likewise it grants tax exemptions from customs duties for the importation of equipment relating to creative industry, books, art related supplies, musical instruments, materials and goods, including those donated to the SPCA upon certification by the DepEd.
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It also grants tax exemption from the donor's tax for all grants, bequest, endowments, donations and contributions made to the SPCA and considers the same as allowable deduction from gross income for purposes of computing the taxable income of the donor.
It also grants tax exemption from the donor's tax for all grants, bequest, endowments, donations and contributions made to the SPCA and considers the same as allowable deduction from gross income for purposes of computing the taxable income of the donor.
The same fact sheet explained that the bill aims to provide a continuing source of artists of excellence and leaders in the preservation and promotion of culture, arts, and the creative industry.
The same fact sheet explained that the bill aims to provide a continuing source of artists of excellence and leaders in the preservation and promotion of culture, arts, and the creative industry.
The House will submit the bill to the Senate for action.
The House will submit the bill to the Senate for action.
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