BIR Ruling

March 14, 1973 2nd Indorsement Returned to the Regional Director, Revenue Region No. 1, Baguio City, the letter of Mr. Florencio Villanueva dated January 31, 1973 tendering partial payment in the amount of P777.58 to cover 60% of the 6% tax due from the amounts of P7,150.00 and P8,500.00 earned by him as a real estate agent during the years 1969 and 1970, respectively. Under the amnesty prescribed by Presidential Decree No. 68, tax accounts resulting from assessment and/or letters of demand issued by this Office before November 24, 1972 may be reduced by 40% if fully paid on or before January 31, 1973, or by 20% if fully paid on or before February 28, 1973. In the instant case, although there is no assessment or letter of demand issued against the taxpayer prior to November 24, 1972, the taxpayer was already informed of his tax liability before November 24, 1972. Under the circumstances, this case comes within the purview of the said amnesty. acd (SGD.) MISAEL P. VERA Commissioner of Internal Revenue