Filing by a Trustee of the Return of the Income of a Trust
BIR Ruling No. 017-67 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Apr 17, 1967
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April 17, 1967 BIR RULING NO. 017-67 Mr. Andres K. Roxas Assistant Vice-President Commercial Bank and Trust Company M a n i l a S i r : This refers to your letter dated July 7, 1966 requesting the opinion of this Office on whether or not a trustee can elect to file the return of the income of a trust on the calendar or fiscal year basis. In reply thereto, I have the honor to inform you that trusts are taxed as an individual pursuant to Section 56 of the Tax Code. Consequently, a trustee has to file the return of the income of a trust on the calendar year basis only in accordance with Section 38 of the Tax Code. LLphil Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue
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