BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • May 2, 1974
Full text
May 2, 1974 Mr. Benjamin P. Tienzo 932 Celestino Aragon Malate, Manila S i r : In reply to your letter dated March 5, 1974, I have the honor to inform you that treasury bills issued by the Secretary of Finance through the Central Bank of the Philippines do not bear any interest pursuant to R.A. No. 245. However, the income derived by a purchaser thereof, which is the difference between their purchase price on a discount basis and redemption at maturity by the Philippine Government, is subject to income tax. 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."
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