BIR Ruling

February 14, 1973 The National Investment and Development Corporation 259-263 Buendia Avenue Makati, Rizal Attention: Mr . R . A . Montessine, Jr . Manager, Project Evaluation Department Gentlemen : This refers to your letter dated February 12, 1973 requesting that one of your staff, Mr. Roberto B. Mercado, be allowed to look over our records on the financial statements of the San Pablo Manufacturing Corporation and the Legaspi Oil Company. acd In reply, I regret to inform you that your request cannot be granted in view of the prohibition imposed under Section 347 of the Tax Code, as amended by Presidential Decree No. 69, which is quoted hereunder as follows: "SEC. 347. Unlawful Divulgence of trade secrets . Except as provided in Section 81 of this Code and Section 26 of Republic Act Numbered Six Thousand Three Hundred Eighty-Eight, any officer or employee of the Bureau of Internal Revenue who divulges to any person or makes known in any other manner than may be provided by law information regarding the business, income, or inheritance of any taxpayer, the secrets, operation, style of work, or apparatus of any manufacturer of producer, or confidential information regarding the business of any taxpayer, knowledge of which was acquired by him in the discharge of his official duties, shall be fined the sum of not more than two thousand pesos or imprisonment for a term of not less than six months nor more than five years, or both." Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue