Based on Revenue Memorandum Circular (RMC) No. 30-2016, only contributions spent and utilized during the campaign period are exempt from tax but any political contribution or donation spent before or after the campaign period set by the Commission on Elections are subject to both donor's tax and income tax. The same RMC also provides that any unspent political contribution that form part of the taxable income are subject to income tax. Also under this Memorandum,
the creditable withholding tax applies whether the source is from political contributions, personal funds, or otherwise.
Under Section 36 of the Corporation Code however, corporations are prohibited from making political contributions. If, in so doing, regardless of whether it be spent before, during, and after the campaign, the same will be subject to donor's tax which has been now lowered by TRAIN law to 6%.
see:
https://www.bir.gov.ph/images/bir_files/internal_communications_2/RMCs/RMC%20No%2030-2016.pdf
http://www.chanrobles.com/legal5title4.htm#.XGTKOVwzaUk
https://www.rappler.com/business/222802-ask-the-tax-whiz-candidates-taxes-campaign-expenses
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