BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Dec 9, 1968
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December 9, 1968 Philippine Institute of Certified Public Accountants 3rd Floor, Social Communications Center Building R. Magsaysay Blvd. cor. Santol Road Sta. Mesa, Manila Attention: Mr . Luis P . Vera Gentlemen : In reply to your letter dated December 3, 1968, I have the honor to inform you that the new rates of individual income tax prescribed by Republic Act No. 5325 which was approved on June 15, 1968 are applicable to income earned beginning January 1, 1968. The new rates of corporate income tax prescribed by Republic Act No. 5431 which was approved on June 27, 1968 are applicable to income earned beginning July 1, 1968. Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue
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