BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Oct 6, 1975
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October 6, 1975 Alfonso, Uy, Mayo & Associates Suite 407, Baas Bldg. 815 Rizal Avenue, Manila Gentlemen : In reply to your letter dated July 28, 1975, I have the honor to inform you that a person who buys and sells real estate, builds building or condominium for sale is a real estate dealer, subject to real estate dealer's fixed tax prescribed in Section 182(A)(3)(aa) of the Tax Code. As such real estate dealer, his gain derived from the sale of real properties is considered an ordinary gain. Very truly yours, (SGD.) EFREN I. PLANA Acting Commissioner of Internal Revenue TAN 1456-040-3
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