BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Apr 12, 1973
Full text
April 12, 1973 Mr. Julio H. Ozamis 2-A Syquia-Michel 2030 A. Mabini St. Ermita, Manila S i r : This refers to your letter dated April 11, 1973 relative to Presidential Decree No. 16, as amended by Presidential Decree No. 16-A and in answer to the queries posed therein, I have the honor to inform you as follows: DBP Progress Bonds are government bonds. New issues means original issues. Bonds, securities or debentures, for instance, which were floated or offered as early as 1969 which remain undisposed after the promulgation of the Decree are considered new issues and, therefore, qualify as investment area. The 10 3/4% Treasury Notes and the Central Bank Certificates of Indebtedness allegedly to be issued on April 16, 1973 are considered government securities and, therefore, qualify as investment area. It may be stated in this connection that shares of stock covered by Section 4 of Republic Act No. 6141 do not fall within the ambit of the Decree. Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue TAN-1601-593-5
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