BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Sep 7, 1977
Full text
September 7, 1977 Knights of Columbus Fraternal Association of the Philippines, Inc. Knights of Columbus National Headquarters Building General Luna cor. Sta. Potenciana Sts. Intramuros, Manila Attention: Mr . Camilo S . Sadaba Acting General Manager Gentlemen : In reply to your letter dated August 24. 1977, I have the honor to inform you that your organization, the Knights of Columbus Fraternal Association of the Philippines, Inc., being a fraternal beneficiary society which is exempt from the payment of income tax pursuant to Article 27(c) of the Tax Code, is exempt from the 15% withholding tax imposed on interest earnings on bank deposits by Presidential Decree No. 1156. This serves as authority of the depository banks to forego withholding of the 15% tax on the interest income of the funds deposited with them by that association. Very truly yours, CONRADO P. DIAZ Deputy Commissioner of Internal Revenue TAN-D2561-D1025-A-2 ''TAXPAYERS SHOULD INDICATE THEIR TAN IN ALL COMMUNICATIONS TO THE BIR."
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