BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Feb 21, 1974
Full text
February 21, 1974 Messrs. Cruz, Villarin, Ongkiko Academia and Durian ACC Law Building. 451-461 Cabildo St. Intramuros, Manila Gentlemen : With reference to your letter dated February 20, 1974, I have the honor to inform you that your client Manila Polo Club, shall not lose its tax-exempt status as a club under Section 27(h) of the Tax Code should it offer the use of its facilities, including dining facilities, to the Sommer' 74 Group of European Tourists on or about February 25-26, 1974. It should be emphasized, however, that although clubs are exempt from income tax pursuant to Section 27(h), they are now subject to the percentage tax prescribed by Section 191-A of the Tax Code. Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue TAN 1601-593-5
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