BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Apr 11, 1969
Full text
April 11, 1969 The Philippine National Bank Manila Attention: Mr . Antonio M . Diaz Gentlemen : With reference to your telegram dated April 7, 1969, I have the honor to inform you that the PNB Provident Fund which had previously been found by this Office to be an exempt organization remains exempt from income tax even with the passage of Republic Act No. 5431. The provisions of Republic Act No. 5431 subjecting to income tax all corporations heretofore exempt from income tax does not include the PNB Provident Fund. aisadc Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue
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