BIR Ruling

February 23, 1973 Mr. Aurelio M. Mendoza P/O Box 747, Miss. State Univ., Miss., USA, 39762 S i r : This refers to your letter dated December 26, 1972 requesting this Office to allow you to submit any required report, in compliance with Letter of Instructions No. 17, dated October 1, 1972 of the President of the Philippines which gives a grace period until December 31, 1972 to all persons who would voluntarily disclose their undeclared income consisting of concealed cash, funds (in any currency), securities, personal, real and other forms of property as income. In reply thereto, I have the honor to inform you that since you "do not have any uninvested, undeposited, or undeclared income or property", this Office believes that you were not bound to submit the report required by the said Letter of Instruction. Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue