BIR Ruling

January 14, 1968 Chief of Staff Philippine Army Camp E. Aguinaldo Quezon City S i r : This refers to your 1st Indorsement dated November 23, 1967 requesting comment on the offer of Ortigas & Co. Ltd. Partnership to transfer a parcel of land owned by it covered under TCT No. 1337 and Tax Declaration No. 14460 of Rizal Province with an area of 12,287 square meters, to the Philippine Army for tax credit basis at P200.00 per square meter, which will be used to pay its income tax and other taxes due the government. In reply thereto, I have the honor to inform you that income tax collections are allotted by law to the Municipal, Provincial and National Governments. The share of the National Governments. The share of the National Government in income tax collections forms part of the general fund which cannot be disposed of except by virtue of an appropriation measure enacted by Congress. Such being the case, the offer of the Ortigas & Co. Ltd. Partnership cannot be accepted for lack of legal basis. iatdc Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue