BIR Ruling No. 001-80
BIR Ruling No. 001-80 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Jul 18, 1980
Full text
July 18, 1980 BIR RULING NO. 001-80 024-b 080-80 01-80 Gulfeast Philippines 2nd Floor, F & N Lopez Bldg. Herrera corner Legaspi Street Legaspi Village, Makati Metro Manila Attention : Mr . Habib Janmahomed Managing Director Gentlemen: In reply to your letter dated July 17, 1980, I have the honor to inform you that it having been established that HongKong does not impose any tax on dividends received by corporations domiciled therein from foreign sources, the dividends to be remitted by Landoil Resources Corporation to Gulf Asia Pacific Limited, a non-resident foreign corporation domiciled in HongKong are subject only to the 15% withholding tax, prescribed by Section 24(b) (1) (iii) of the Tax Code, as amended. LexLib Very truly yours, TOMAS C. TOLEDO Acting Commissioner
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