BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Oct 26, 1973
Full text
October 26, 1973 The President Federation Securities Corporation Ground Floor, Federation Center Muelle de Binondo, Manila S i r : In reply to your letter dated September 27, 1973, I have the honor to inform you that an individual does not become a stock broker or dealer in securities because of the frequency of his purchases and sales of stock which he does thru brokers. Such individual need not keep books of accounts wherein to record his stock transactions, but he should keep the records of his stock transactions such as the broker's confirmation of sale. cdtech Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue TAN 1601-593-5
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.