50% Amusement Tax Exemption on the Proceeds Derived from the Boxing Exhibition

January 9, 1959 BIR RULING NO. 008-59 The Executive Secretary Council for the Prevention of Juvenile Delinquency Office of the Mayor Manila M a d a m : In answer to your letter dated December 29, 1958, requesting exemption from the amusement tax on the proceeds to be derived from the boxing exhibition to be presented on January 19, 1959, under the promotion of the Boys' Town of Manila, I have the honor to inform you that your request is granted to the extent of 50%, provided that, as alleged, the net proceeds to be realized from said exhibition shall inure to the exclusive benefit of the Boys' Town. In this connection, it is requested that a statement of receipts and disbursements, duly supported by receipts and vouchers, be submitted within ten (10) days after holding the aforesaid exhibition, together with a certificate, or a certified copy thereof, signed by a responsible official of the Boys' Town, acknowledging receipt of the net proceeds realized from the exhibition; otherwise, this Office will proceed to assess and collect the tax that may be due on the proceeds in question. It is understood that the funds that will accrue from the receipts of the exhibition shall be subject to audit by a representative of the Auditor General in accordance with accepted auditing procedures. llcd Very truly yours, (SGD.) MELECIO R. DOMINGO Acting Commissioner of Internal Revenue