BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Jan 27, 1975
Full text
January 27, 1975 Mr. Aleks Espino 1801 Gen. Luna Ext. Paco, Manila S i r : In reply to your letter dated January 9, 1975, I have the honor to inform you that if, for a taxable year, you elect the optional standard deduction, you can no longer claim itemized deductions for income tax purposes. Consequently, you cannot deduct in full from your gross income, the deductions you have made for the same taxable year to social welfare, cultural and charitable institutions, in accordance with Presidential Decree No. 507. Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue TAN 1601-593-5
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