BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Oct 22, 1969
Full text
October 22, 1969 Mr. Marcelino N. Samson 138 Scout Rallos Quezon City S i r : This refers to your letter dated January 2 , 1968 requesting legal opinion on a query stated as follows: "Will you kindly inform if following are subject to income tax: a. Proceeds collected from Gov't. Insurance when the policy terminates. b. Proceeds collected due to Gov't. retirement pay If not taxable, should they nevertheless be reported in the Income Tax Return?" In reply thereto, I have the honor to inform you that pursuant to Section 25(c) of Commonwealth Act No. 186 as amended, all benefits granted by the Government Service Insurance System shall be exempt from all types of taxes. Accordingly, retirement benefits as well as the proceeds of insurance received by a member of the system are not subject to tax and need not be included or reported as part of gross income for income tax purposes. cdll Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue
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