Retirement Considered as Income
BIR Ruling No. 015-59 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Jan 7, 1959
Full text
January 7, 1959 BIR RULING NO. 015-59 Mr. Walter X. Osborn c/o Acoje Mines Sta. Cruz Zambales S i r : In reply to your letter of November 15, 1958, I have the honor to inform you that the amount of P12,000.00 given to you by your company in connection with your retirement last January, 1958, is considered as income for said year and should be reported in your income tax return for 1958. Very truly yours, (SGD.) MELECIO R. DOMINGO 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.