BIR Ruling No. 005-64
BIR Ruling No. 005-64 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Feb 28, 1964
Full text
February 28, 1964 BIR RULING NO. 005-64 The Regional Director Regional District No. 2 San Fernando, Pampanga S i r : With reference to the letter of Mr. Miguel L. Santos, No. 6 Magsaysay Drive, Olongapo, Zambales, dated November 21, 1963, you are informed that a person engaged in exchanging U.S. dollars and other foreign currencies with the Philippine peso is not subject to any tax on business. However, income realized therefrom is subject to the income and additional taxes. cdt Very truly yours, (SGD.) BENJAMIN N. TABIOS Acting Commissioner of Internal Revenue
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.