BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Jun 15, 1969
Full text
June 15, 1969 Mr. Buenaventura B. Loberiza Vice-President & Treasurer American International Underwriters (Philippines) Inc. AIU Bldg., 6797 Ayala Avenue Makati, Rizal S i r : In reply to your letter dated June 3, 1969, I have the honor to inform you that the Foster Parents' Plan, Inc., is exempted from payment of all taxes and duties in view of the all-embracing tax exemption provision under Section 1 of Republic Act No. 4169. Said exemption however, does not include payment of documentary and science stamp taxes affixed on all insurance policies issued to Foster Parents' Plan, Inc., and its personnel by your agency because the payment of the documentary and science stamp taxes affixed on said insurance policies is a direct liability of the insuring company or the one who issues the same. (Section 210, National Internal Revenue Code). In other words, while the Foster Parents' Plan, Inc. is exempt from payment of all direct taxes, it is not, however, exempt from the payment of indirect taxes shifted to it by those directly liable thereto. cdll Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue
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