BIR Ruling

October 2, 1973 Mr. Ramon Castillo 560 Burgos Street Kalibo, Aklan S i r : In reply to your letter dated June 2, 1973, I have the honor to inform you that pursuant to Section 180 of the Tax Code, as amended by Presidential Decree No. 69, the real estate dealer's fixed tax prescribed in Section 182(A)(3)(aa) of the Tax Code is payable annually, on or before the thirty first of January. If the privilege tax is not paid within the time specified, the amount of the tax shall be increased by 25%, the increment to be part of the tax (Section 180, Tax Code.) Moreover, where the amount of the tax imposed under Section 182, or any part of such amount, is not paid on the due date of the tax, there shall be collected, as part of the tax, interest upon such unpaid amount at the rate of 14% per annum from the due date until it is paid (Section 180-A, Tax code.) Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue TAN-1601-593-5 "TAXPAYERS SHOULD INDICATE THEIR TAN IN ALL COMMUNICATIONS TO THE BIR."