BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Oct 2, 1973
Full text
October 2, 1973 Messrs. Siguion Reyna, Montiecillo and Ongsiako A. Soriano Building Ayala Ave., Makati, Rizal Gentlemen : With reference to your letter dated September 29, 1973 I have the honor to inform you that for purposes of Presidential Decree No. 16, as amended by Presidential Decree No. 16-A, the proceeds from the disposition of capital assets made before October 5, 1973 may be invested even after said date provided that the investment is made within six (6) months from the date the proceeds are received. In such cases, the gains corresponding to the proceeds invested remain exempt from income tax. cdtech Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue TAN-1601-593-5
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