Grants/contributions.
Section 16
SEC. 16. Grants/contributions.—The administration is authorized to accept and receive grants/contributions from private parties to the obligated and disbursed in such manner as the Authority may, in the exercise of sound discretion, deem best to accelerate the restoration or enhance the maintenance of historical facilities in Intramuros and contribute to their development and preservation. The Administration is likewise authorized to give grants and contributions to private parties for the restoration or maintenance of historical facilities in Intramuros. All grants and donations to the Intramuros Administration shall be exempt from donors and other taxes and shall be fully deductible, over and above what is ordinarily allowable under the national internal revenue code, for purposes of computing liabilities of the donor on income tax, estate tax, or gift or donor's tax on other donations; Provided, That the value or donations in kind shall be determined in consultation with the Commissioner of Internal Revenue.