BIR Ruling

March 19, 1974 Mr. Ricardo A. Fernandez 203 Ramon Samonte St. San Roque, Cavite City (D-305) S i r : In reply to your letter dated October 11, 1973, I have the honor to inform you that beginning the taxable year 1973, the pension which you are receiving as a retired federal employee is exempt from income tax pursuant to Presidential Decree No. 220. Accordingly, if your only income consists of said pension, you are exempt from the filing of an income tax return. However, even if you have no other income except your pension, you are nevertheless required to file an income tax return if you fall under any of the following categories, viz: "(A) Is an official or employee of the government or has a contract with the Government of the Republic of the Philippines, or any of its agencies or instrumentalities, including government-owned or controlled corporations, regardless of the nature of his appointment or duration of his employment; "(B) Is a professional as defined herein below; "(C) Is a registered or beneficial owner or mortgagee of any real property; "(D) Is a registered or beneficial owner, or mortgagee of any motor vehicle; "(E) Is a registered or beneficial owner, or mortgagee of any share of stock or security of a corporation, or any interest in a firm or partnership; "(F) Has travelled abroad, except children below eighteen years of age; "(G) Has filed a certificate of candidacy for any public office except barrio officials and municipal councilors; "(H) Is engaged in trade or commerce." aisa dc Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue TAN-1601-593-5