BIR Ruling

March 31, 1975 Mr. Fraivenacio A. Valdez The Manila Council Boy Scouts of the Philippines 181 Concepcion St., Ermita Manila S i r : This refers to your letter dated November 4, 1974 requesting information as to whether or not your organization, which is not intended for profit but it is a civic and benevolent institution engaged in the promotion and development of character, patriotism, courage, self-reliance and kindred virtues in the boys of the country, is exempt from paying withholding taxes from PDCP stock dividends. In reply, I have, the honor to inform you that since your organization, the Manila Council of the Boy Scout of the Philippines is an exempt organization under Section 27(g) of the Tax Code, it is exempt from the payment of income tax. Consequently, the dividends it receives is not subject to the withholding tax on certain dividends under Section 53(d) of the Tax Code. Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue TAN 1601-593-5