BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Sep 23, 1977
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September 23, 1977 The Honorable The Treasurer of the Philippines Bureau of the Treasury Intramuros, Manila S i r : In reply to your letter dated July 12, 1977, I have the honor to inform you that the interest earnings of the bank deposits of the Bureau of the Treasury which is a government agency exempt from the payment of income tax, are exempt from the 15% withholding tax imposed on interests on bank deposits by Presidential Decree No. 1156. Very truly yours, BERNARDO D. CARPIO Assistant Commissioner of Internal Revenue TAN-C6110-A1014-A-7
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