BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Oct 3, 1973
Full text
October 3, 1973 Messrs. Guzman, Bocaling & Co. 416 Regina Building Escolta, Manila Gentlemen : In reply to your letter dated September 26, 1973, I have the honor to inform you that, for purposes of Presidential Decree No. 16, as amended by Presidential Decree No. 16-A, investments in life insurance companies qualify. For purposes of the Decree, a taxpayer is not disqualified by his failure to file with this Office notice of disposition of his capital assets, although, he may be held liable for violation of the regulations. Should said taxpayer desire to avail of the Decree, he must now file the notice of disposition and subsequently the notice of investment as provided by the regulations. Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue TAN-1601-593-5
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.