BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • May 7, 1973
Full text
May 7, 1973 Filipino Galvanizers Institute, Inc. 7th Floor, Manilabank Building Ayala Ave., Makati, Rizal Attention: Mr . Milarion G . Mendoza, Jr . Legal Counsel Gentlemen : This is with reference to your letter dated April 10, 1973 requesting information whether or not a non-profit, non-stock domestic corporation is required under the Residence Tax Law to pay the additional residence tax. (Class C-1). In reply thereto, I have the honor to inform you that corporations as used in C. A. 465 which include duly incorporated company, stock company, partnership, joint account (cuenta en participacion), association, or insurance company, no matter how created or organized are subject to the residence tax. However, such corporations which do not own real property nor earn income from sources other than that for which they are organized are not subject to the additional residence tax. (B.I.R. Ruling No. 015-64, March 16, 1964). Very truly yours, (SGD.) CONRADO P. DIAZ Acting Commissioner of Internal Revenue
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