BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Oct 19, 1972
Full text
October 19, 1972 North Davao Green Gold Jaycees Junior Chamber of North Davao, Inc. Tagum, Davao del Norte Attention: Mr . Ildefonso B . Suico Secretary General Gentlemen : This refers to your letter dated June 15, 1972 requesting exemption from internal revenue taxes and other fees that may be due for holding a raffle with prizes. acd It appears that the North Davao "GreenGold" Jaycees will sponsor said raffle and the proceeds to be raised by the club will be used in the Medic Aid projects, intended to be given to deserving indigents on a province wide scale. In reply, I have the honor to inform you that the mere holding of a raffle is not subject to the amusement tax under Section 260 of the Tax Code or any internal revenue tax. However, the persons winning in the raffle should declare in their income tax return the actual amount of their winnings after deducting the cost of the ticket. (Section 29, Tax Code) cdtech Very truly yours, MISAEL P. VERA Commissioner of Internal Revenue
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