Person Leasing or Renting Property With Gross Annual Rental of P2,000 Not Subject to Real Estate Dealer's Fixed Tax
BIR Ruling No. 017-68 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Sep 3, 1968
Full text
September 3, 1968 BIR RULING NO. 017-68 Mr. Jose J. Malinit 1059 Miguelin St., M a n i l a S i r : In reply to your letter dated March 28, 1968, I have the honor to inform you that pursuant to Section 194(s) of the Tax Code a person leasing or renting property for an aggregate amount of P4,000.00 or more a year is considered as engaged in business as real estate dealer and as such, subject to the real estate dealer's fixed tax imposed by Section 182(A)(3)(s) of the same Code, the amount of which is P150.00, if the gross annual rental received does not exceed P10,000.00; P300.00, if it exceeds P10,000.00 but does not exceed P30,000.00; and P500.00, if it exceeds P30,000.00. If, as represented in your aforesaid letter, your gross annual rental amounts to P2,000.00 only, you are not considered a real estate dealer and therefore, not subject to the real estate dealer's fixed tax. Very truly yours, (SGD.) MISAEL P. VERA 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.