BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Oct 19, 1971
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October 19, 1971 Movie Prom Co. 2nd Floor CMI Building Ayala Avenue, Makati, Rizal Attention: Mr . Rene M . Diaz Gentlemen : This refers to your letter dated September 11, 1971, requesting information as to what internal revenue tax you are liable to for engaging in the business of buying television time and programs on block time and selling commercial advertisement spots to various business firms. aisa dc In reply, I have the honor to inform you that for engaging in the business of buying and selling television time, you are an advertising agency. As such advertising agency, you are a business agent (Section 194(v), Tax Code) subject to the fixed annual tax of P50.00 and to the 3% tax on your gross receipts pursuant to Sections 182(A)(1) and 191(18) of the Tax Code. cdta Very truly yours, MISAEL P. VERA Commissioner of Internal Revenue
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